An investor wants to save for five years for a down payment, Financial Management

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An investor wants to save for five years for a down payment

An investor wants to save for five years for a down payment on a house. She deposits $200 per month into a savings account paying 7% compounded monthly. At the end of the five years, she places the balance of the savings account as a down payment on a house costing $79,308.00. What will her monthly house payments be if she finances it for 25 years at 7%?

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Financial Management: An investor wants to save for five years for a down payment

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Financial Management: An investor wants to save for five years for a down payment

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