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The Wilsons just purchased a home for $340,000. They made an initial payment of $20,000 and secured a 30-year mortgage at 4.4% per year interest,
The Wilsons just purchased a home for $340,000. They made an initial payment of $20,000 and secured a 30-year mortgage at 4.4% per year interest, compounded monthly, to pay for the rest. What will their monthly payments be? Over the entire course of the mortgage, how much will they pay in interest?
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