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Determining the month mortgage payment

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You can afford a $1200 per month mortgage payment. You've found a 30 year loan at 7% interest.

a) How big of a loan can you afford? Round your answer to the nearest dollar.

b) How much total money will you pay the loan company? Round your answer to the nearest dollar.

c) How much of that money is interest? Round your answer to the nearest dollar.

Reference no: EM132575089

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