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Question 3 (1 point) You have decided to purchase a house for $225000 and are evaluating your options for the mortgage. Assume that your downpayment
Question 3 (1 point) You have decided to purchase a house for $225000 and are evaluating your options for the mortgage. Assume that your downpayment will be 20% of the purchase price, payments will be made monthly, and the first payment will be made one month from today. If you select the 15 -year mortgage, the interest rate will be 4.25% annually (compounded monthly). What is the total of all payments made for the mortgage? A) $254,571
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