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# albert tilman wishes to buy a house selling for \$90,000. his credit union requires him to make a%15 down payment . the current mortage rate is 10.0% .Find the required down payment and the total monthly payment for a 30 year loan

$the\ current\ mortage\ rate\ is\ 10.0\%\\\\the\ value\ of\ mortgage\ is\ \90,000+10\%\cdot\90,000=\99,000\\\\the\ required\ down\ payment\ 15\%:\\\\\ \ \rightarrow\ \ 15\%\ of\ \99,000=0.15\cdot\99,000=\14,850\\\\ the\ total\ monthly\ payment\ for\ a\ 30\ year\ loan:\\\\ \frac{\big{\99,000-\14,850}}{\big{30\cdot12}} =\frac{\big{\84,150}}{\big{30\cdot12}} =\233.75$