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A) Mr. Homemaker has just taken out $185,000 mortgage at an interest rate of 3.6% [Annual rate]. The mortgage calls for equal monthly payments for

A) Mr. Homemaker has just taken out $185,000 mortgage at an interest rate of 3.6% [Annual rate]. The mortgage calls for equal monthly payments for 15 years. Then the amount of the monthly payment is: [Assume monthly compounding]

B) What is the total interest paid over the life of the loan? (Approximately)

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