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Mark takes out a 30-year mortgage for $148,692 to buy a house. The loan collects interest at an annual rate of 4.8%, compounded monthly. Find
Mark takes out a 30-year mortgage for $148,692 to buy a house. The loan collects interest at an annual rate of 4.8%, compounded monthly.
Find Mark's monthly payment.
Find the total that Mark pays back over the course of the 30 years.
Find the amount of interest that Mark is charged over the lifetime of the loan.
Enter the answer to Part c in the box below. Round your answer to the nearest dollar.
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