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O n a $ 4 0 0 , 0 0 0 home mortgage loan with a 1 5 - year term a t 9 %

O n a

400, 000

home mortgage loan with

a 15 -

year term

a t 9 %

APR compounded monthly, compute the total payments

o n

principal and interest over the first five years

o f

ownership.

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