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    Practical Business Math Procedures Study Set 1
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    Exam 15: The Cost of Home Ownership
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    Abby's Monthly Payment Is $781
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Abby's Monthly Payment Is $781

Question 5

Question 5

True/False

Abby's monthly payment is $781.60 per month. The principal is $80,000 at a rate of 11 1/2% for 35 years. The principal reduction after the first mortgage payment is $14.93.

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