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The Howe family recently bought a house. The house has a 30-year, $276,957.00 mortgage with monthly payments and a nominal interest rate of 3.5 percent.
| The Howe family recently bought a house. The house has a 30-year, |
| $276,957.00 mortgage with monthly payments and a nominal interest rate of |
| 3.5 percent. What is the total dollar amount of interest the family will pay |
| during the first 4 years of their mortgage? (Assume that all |
| payments are made at the end of the month.) |
$37,273.68
$38,273.68
$36,273.68
$35,273.68
$34,273.68
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