Calculate the monthly payments of a

30-year

fixed-rate mortgage at

6.25

percent for

$174,700.

How much interest is paid over the life of theloan?

Note: Round intermediate computations to at least five(5) decimal places.

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Part 1

The monthly payments of a

30-year

fixed-rate mortgage at

6.25%

for

$174,700

is

$enter your response here.

(Round to the nearestcent.)