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4. You borrow $500,000 to purchase a house. The annual mortgage is 4.875%, and the period of the mortgage is 30 years. Payments are made

image text in transcribed 4. You borrow $500,000 to purchase a house. The annual mortgage is 4.875%, and the period of the mortgage is 30 years. Payments are made monthly. a) What is the monthly payment you will have to make on the mortgage? b) What is the total interest you will have paid by the end of the mortgage

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