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Mike purchased a house. The purchase price was $ 2 4 5 , 0 0 0 . Mike put $ 2 6 , 0 0
Mike purchased a house. The purchase price was $ Mike put $ as down payment and financed the rest. For the rest, Mike signed a mortgage note to pay the National Bank $ at the end of each month for the next years. What is the exact interest rate on the mortgage charged by the bank per year? What is the total interest payment in this deal?
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