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A woman buys a house for $330,000. She pays $30,000 down and takes out a mortgage at 6.6% on the balance. Find her monthly payment

A

woman

buys a house for

$330,000.

She

pays

$30,000

down and takes out a mortgage at

6.6%

on the balance. Find

her

monthly payment and the total amount of interest

she

will pay if the length of the mortgage is

(a) 15 years; (b) 20 years; (c) 25 years.

image text in transcribed

A woman buys a house for $330,000. She pays $30,000 down and takes out a mortgage at 6.6% on the balance. Find her monthly payment and the total amount of interest she will pay if the length of the mortgage is (a) 15 years; (b) 20 years; (c) 25 years. (a) For the 15 -year mortgage, the woman will make monthly payments of $ (Do not round until the final answer. Then round to the nearest cent.) The total amount of interest the woman will pay is $ (Do not round until the final answer. Then round to the nearest cent.) (b) For the 20-year mortgage, the woman will make monthly payments of $ (Do not round until the final answer. Then round to the nearest cent.) The total amount of interest the woman will pay is $ (Do not round until the final answer. Then round to the nearest cent.) (c) For the 25-year mortgage, the woman will make monthly payments of \$ (Do not round until the final answer. Then round to the nearest cent.) The total amount of interest the woman will pay is $ (Do not round until the final answer. Then round to the nearest cent.)

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