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QUESTION 2 You plan to purchase an $80,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered is 8%

QUESTION 2 You plan to purchase an $80,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered is 8% and you will need to make a down payment of 20% of the offer price. Calculate the interest and principal payment for the 127th monthly payment. Enter your interest payment (2 decimals - no $ sign)

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