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handwritten needed 3. The purchase price of a house is $450,000. You decide to put 20% down and finance the rest by securing a mortgage

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3. The purchase price of a house is $450,000. You decide to put 20% down and finance the rest by securing a mortgage at 6% interest compounded monthly for 30 years. After making payments for 17 years, mortgage rates hit an all-time low and you decide to re-finance. The advertised rate is 3.25% for 20 years. What is your monthly payment after re-financing

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