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Business, 02.10.2019 06:00 xyzendre

He happy couple plan to use their $40,000 is savings to cover the closing costs the bank will charge them, which are 1% of the amount they borrow from the bank. the rest of the savings will be used as a down payment. so if they borrow $330,000 using $20,000 for a down payment, the closing costs will be $3,300; but they did not use all of their savings up. determine the largest amount they can use for a down payment and still pay the closing costs.

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