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The cost of a home is financed with a $ 150,000 150,000 40 40 -year fixed-rate mortgage at 3 3 %. a. Find the monthly

The cost of a home is financed with a $150,000

150,000 40

40-year fixed-rate mortgage at 3

3%.

a. Find the monthly payments and the total interest for the loan.

b. Prepare a loan amortization schedule for the first three months of the mortgage.

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