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Challenge question II Tyler wants to buy a beach house as part of his investment portfolio....

Challenge question II Tyler wants to buy a beach house as part of his investment portfolio. After searching the coast for a nice​ home, he finds a house with a great view and a hefty price of $4,500,000. Tyler will need to borrow from the bank to pay for this house. Mortgage rates are based on the length of the​ loan, and a local bank is advertising​ fifteen-year loans with monthly payments at 7.125​%, ​twenty-year loans with monthly payments at 7.25​% and​ thirty-year loans with monthly payments at 7.375​%.  What is the monthly payment of principal and interest for each​ loan? Tyler believes that the property will be worth ​$5,500,000 in five years. Ignoring taxes and real estate​ commissions, if Tyler sells the house after five ​years, what will be the difference in the selling price and the remaining principal on the loan for each of the three​ loans?

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