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9. A couple has just purchased a home for $357,800.00. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker
9.
A couple has just purchased a home for $357,800.00. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker has gotten them a mortgage rate of 5.28% APR with monthly compounding. The mortgage has a term of 30 years. How much interest is paid on the first payment? Submit Answer format: Currency: Round to: 2 decimal placesStep by Step Solution
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