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Lomasi has just purchased a house with a 3 0 year mortgage with 3 . 6 % interest. The price of the home is $

Lomasi has just purchased a house with a

30

year mortgage with

3.6 %

interest. The price of the home is $

234, 687 .

What was Lomasi's cost of financing?

Round your answer to the nearest cent, if necessary

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