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You would like to purchase a townhouse but would need to borrow $250,000 at 4% interest on a 30-year loan. The estimated annual property taxes would be $1600 and the estimated home insurance would be $800 annually. The townhouse association fee each month is $600. a) What is the monthly payment on principal and interest (just the mortgage payment)? b) Given all monthly expenses, what is the total monthly cost of the townhouse?

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