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3) The Howe family recently bought a house. The house has a 30-year, $165,000 mortgage with monthly payments and a nominal interest rate of 8

3) The Howe family recently bought a house. The house has a 30-year, $165,000 mortgage with monthly payments and a nominal interest rate of 8 percent. What is the total dollar amount of interest the family will pay during the first three years of their mortgage? (Assume that all payments are made at the end of the month.)

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