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Mr. and Mrs. Wong purchase a new house for $350,000. They made a down payment of 15%, and amortized the rest over 20 years at

Mr. and Mrs. Wong purchase a new house for $350,000. They made a down payment of 15%, and amortized the rest over 20 years at an annual interest rate is 4.5%.

Find their monthly payment.

Determine how much interest they will end up paying in the 20 years of the loan.

Create an amortization schedule for the loan using EXCEL.

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