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Faith Villa has asked for a 3 0 - year mortgage ( repayable in monthly installments ) to purchase a home in Oklahoma City, Oklahoma.

Faith Villa has asked for a 30-year mortgage (repayable in monthly installments) to purchase a home in Oklahoma City, Oklahoma. The purchase price of the home is $150,000 of which $125,000 must be borrowed. If the APR on this loan is 8 percent, how much will Faith's total financing charges be?

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