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Assume you are purchasing a new house. You obtain a 30-year fixed rate mortgage with a 5.3% annual interest rate. The total amount of the

Assume you are purchasing a new house. You obtain a 30-year fixed rate mortgage with a 5.3% annual interest rate. The total amount of the mortgage loan is $150,000. How much interest will you pay over the life of the mortgage?

A.$10,488

B.$71,200

C.$61,360

D.$149,880

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