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( 5 ) Arlen buys a home for $ 3 2 8 , 0 0 0 and makes a down payment of $ 3 3
Arlen buys a home for $ and makes a down payment of $ The balance he finances with a fifteenyear mortgage with monthly payments and an annual effective interest rate of There will be level payments followed by a final slightly reduced payment. Calculate the amount of interest that Arlen pays in the first five years of the loan
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