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A family buys a house for $ 3 3 0 , 0 0 0 . They pay 1 5 % down and the rest is

A family buys a house for $330,000. They pay 15% down and the rest is amortized with a 30 -year mortgage at 6.5% annual interest, compounded monthly.

(a) What is the nominal amount of the mortgage loan?

(b) What are the monthly payments?

(c) What is the total of all the payments over the 30 years?

(d) What is the total interest paid on the loan over the 30 years?

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