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Question
Cari just bought a house. She made a $35,000 down payment and financed the balance with a 30-year home mortgage loan with an interest rate of 5.75% compounded monthly. Her monthly mortgage payment is$877. What was the selling price of the house?
Solution
VerifiedAnswered 2 years ago
Answered 2 years ago
Step 1
1 of 5Cari had taken out the -year home mortgage loan with an interest rate of . Her monthly payment is . We need to find the selling price of the house. The selling price will be the sum of the down payment and the amount she took with the mortgage. Let denote that amount.
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