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CNBC.com reported mortgage applications dropped in March 2015 due to an increase in the rate on 30-year fixed rate mortgages to an average of 4.01%.

CNBC.com reported mortgage applications dropped in March 2015 due to an increase in the rate on 30-year fixed rate mortgages to an average of 4.01%. Dennis Natali wants to purchase a vacation home for $235,000 with 20% down. Calculate his monthly payment for a 20-year mortgage at 3.5%. Calculate total interest.

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