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How much are your monthly mortgage payments

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Reference no: EM132774603

You are about to buy a home; the purchase price of the property is $250,000 and you are paying 10% of that amount as a down payment, and financing the remainder. Your mortgage loan terms are 30 years of monthly payments at an annual rate of 3.4%.

(a) How much are your monthly mortgage payments?

(b) Over the life of the loan, how much did you pay in interest?

Reference no: EM132774603

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