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Jack and Mary just go married and want to buy a house. They find one in South Mountain, NY that the like which costs $725,000.

  1. Jack and Mary just go married and want to buy a house. They find one in South Mountain, NY that the like which costs $725,000. They want to use all of their wedding funds, $125,000, as a down payment. They received a 30-year mortgage at an interest rate of 3.25%. What will Jack and Marys monthly mortgage payment be?

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