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Assume a borrower finances the purchase of a home with a $325,000 mortgage at 3.0 percent interest for 30 years. The monthly principal and interest

Assume a borrower finances the purchase of a home with a $325,000 mortgage at 3.0 percent interest for 30 years. The monthly principal and interest on the loan is $1,370.21. The annual taxes are estimated at $3,215 and the hazard insurance is $1,565. What will the total payment be if the lender requires an escrow?

  1. $1,370.21
  2. $1,638.12
  3. $1,644.32
  4. $1,768.54

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