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Consider a home mortgage of $200,000 at a fixed APR of 6% for 20 years. a. Calculate the monthly payment. b. Determine the total amount
Consider a home mortgage of $200,000 at a fixed APR of 6% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. a. The monthly payment is $0. (Do not round until the final answer. Then round to the nearest cent as needed.) . b. The total amount paid over the term of the loan is $ (Round to the nearest cent as needed.)
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