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A $530,000 house is purchased with a 5% down payment and a 30-year loan. (a) Find the monthly payment if the interest rate is 5.1%

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A $530,000 house is purchased with a 5% down payment and a 30-year loan. (a) Find the monthly payment if the interest rate is 5.1% compounded monthly. Round your answer to the nearest cent. S (b) Find the monthly payment if the interest rate is 6.3% compounded monthly. Round your answer to the nearest cent. $ (c) When the loan is paid off after 30 years, how much more is paid in the total payment from the 6.3% rate than the 5.1% rate? S

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