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Compute the monthly payment amount

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Jacqueline's parents, Mr. & Mrs. Lee paid $195,000 for their first house. They made a down payment of 20% and financed the balance at 5.75% for 30 years. Compute the monthly payment amount. How much will they pay over the life of the mortgage if they stay in the house for 30 years or more? How much of this amount will be interest?

Reference no: EM133056794

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