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Jason bought a home in Arlington, Texas, for $127,000. He put down 25% and obtained a mortgage for 30 years at 6%. a. What is

  1. Jason bought a home in Arlington, Texas, for $127,000. He put down 25% and

obtained a mortgage for 30 years at 6%.

a.

What is Jason’s monthly payment? (Do not round intermediate calculations.

Round your answer to the nearest cent.)

  Monthly payment

$   

b.

What is the total interest cost of the loan? (Use the amortization worksheet on the financial calculator.)

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