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A $ 1 1 1 , 5 0 0 mortgage for 2 0 years for a new home is obtained at the rate of 6
A $ mortgage for years for a new home is obtained at the rate of compounded monthly. Find a the monthly payment, b the interest in the first payment, c the principal repaid in the first payment, and d the finance charge.
a The monthly payment on the mortgage is $
Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.
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