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John wants to purchase a new home for $400,000. John will finance $320,000 with a 4% 30 year mortgage. a. how much interest would be

John wants to purchase a new home for $400,000. John will finance $320,000 with a 4% 30 year mortgage.

a. how much interest would be paid in the first 24 payments?

b. What would the loan balance be after 10 years?

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