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# Fatima pays monthly rent of $520 for her townhouse. If she bought the property, the mortgage loan, ... wrote... Posts: 135 Rep: 8 months ago Fatima pays monthly rent of$520 for her townhouse. If she bought the property, the mortgage loan, property tax and utilities would cost her $920 per month. Using the current mortgage loan rate of 6.6% compounded semiannually, calculate how much money Fatima could accumulate over 10 years if she continues to rent and invests the$400 per month difference.

▸ $47,845 ▸$67,768

▸ $15,833 ▸$77,085

▸ \$56,299
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Answer verified by a subject expert
desai.sumeet1desai.sumeet1
wrote...
Posts: 126
Rep:
8 months ago

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Anonymous
wrote...
2 months ago
 Help! The answer is missing an explanation...
Anonymous
wrote...
2 months ago
 I tried this myself, but kept getting the wrong answer:Can someone check what I am doing wrong?
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