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(8pts.) The Kenneths are applying to purchase a house. The purchase price is $350,000 and the bank is requiring a 20% down payment. The Kenneths'

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(8pts.) The Kenneths are applying to purchase a house. The purchase price is $350,000 and the bank is requiring a 20% down payment. The Kenneths' gross annual income is $108,500. They have 16 payments of $475 on a new car and 12 remaining payments of $350 on a HDTV. The taxes on the house are $3500 per year and insurance would cost $1150 per year. The Kenneths' have applied for a conventional loan from the bank with an interest rate of 7%. A. (3 pts) Determine the monthly payments of principal and interest for a 30- year loan. B. (3 pts) Determine the monthly payments, including insurance and taxes. C. (2 pts) What is the total of the mortgage payments over the course of the loan? How much is interest

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