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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 22
Solve the following application problems.
CONDOMINIUM PURCHASE The Polinki family wants to buy a condominium that costs $225,000 with annual insurance and taxes of $850 and $3200, respectively. They plan to pay $20,000 down and amortize the balance at 8% per year for 25 years. They are qualified for a loan as long as the payments do not exceed $1800. Are they qualified for the loan?
CONDOMINIUM PURCHASE The Polinki family wants to buy a condominium that costs $225,000 with annual insurance and taxes of $850 and $3200, respectively. They plan to pay $20,000 down and amortize the balance at 8% per year for 25 years. They are qualified for a loan as long as the payments do not exceed $1800. Are they qualified for the loan?
Explanation
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The cash price is 
and the down payment ...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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