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CNBC.com reported mortgage applications increased 9.9% due to a decrease in the rate on 30-year fixed-rate mortgages. Joe Sisneros wants to purchase a vacation home

CNBC.com reported mortgage applications increased 9.9% due to a decrease in the rate on 30-year fixed-rate mortgages. Joe Sisneros wants to purchase a vacation home for $335,000 with 20% down. Calculate his monthly payment for a 20-year mortgage at 3.5%. Calculate total interest. (Use Table 15.1.)

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