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Calculate the monthly payments of a 30 -year fixed-rate mortgage at 7.00 percent for $140,500. How much interest is paid over the life of the loan? Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: The monthly payments of a 30 -year fixed-rate mortgage at 7.00% for $140,500 is $ (Round to the nearest cent.)