Business, 17.10.2019 18:00 KarlaOsorio7779

Over the past 40 years, interest rates have varied widely. the rate for a 30-year mortgage reached a high of 14.75% in july 1984, and it reached 3.31% in november 2012. a significant impact of lower interest rates on society is that they enable more people to afford the purchase of a home. in the following exercise, we consider the purchase of a home that sells for $125,000. assume that we can make a down payment of $25,000, so we need to borrow $100,000. we assume that our annual income is $58,000 and that we have no other debt. what is our monthly income? (round your answer to the nearest cent.)

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Over the past 40 years, interest rates have varied widely. the rate for a 30-year mortgage reached a...

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