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6. You want to purchase a $170,000 house. You can put 10% down but will have to take out a loan to finance the house.

6. You want to purchase a $170,000 house. You can put 10% down but will have to take out a loan to finance the house. The bank quoted a rate of 5.5% APR for a 30-year fixed rate loan.

(C) How much interest will you pay over the life of the loan (assume the 5.5% APR)?

(D) How much will you owe at the end of 20 years?

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