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Calculate the monthly mortgage payments under the following conditions: $325,000 mortgage, 3.125% interest, 30 years. How much interest will you pay for the first month?

Calculate the monthly mortgage payments under the following conditions: $325,000 mortgage, 3.125% interest, 30 years.

How much interest will you pay for the first month? How much principal will you pay? What is your new loan balance?

How much TOTAL do you pay for that mortgage?

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