Home Loan Problems Set 2 Question 5
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Question 5
Keon is buying a $470000 three bedroom apartment. He has decided to go with a loan from the GMAC Bank. Keon has saved up enough money to put down a 28 % deposit. The length of the mortgage is 30 years, with a fixed interest rate of 6.3 %.
[an error occurred while processing this directive]Calculate how much his total monthly payment is going to be.