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QUESTION 3 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 3 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 159th monthly payment. (again enter only the interest portion of this payment answer to 2 decimals)

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