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3. The Millers are interested in buying a home. Current interest rates are at 6% per year. In considering their finances, the Millers have decided

3. The Millers are interested in buying a home. Current interest rates are at 6% per year. In considering their finances, the Millers have decided to apply for a 15-year mortgage. They believe they can afford to repay the bank $2000 a month.

a) How much money should they request for their purchase?

b) At the end of the 15 years, how much money will the Millers have paid to the bank?

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