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Use the following amortization chart: Selling price of home: $90,000 Down payment: $5,000 Principle(Loan): $85,000 Rate of interest: 5 1/2% Years: 30 Monthly mortgage payment:

Use the following amortization chart: Selling price of home: $90,000 Down payment: $5,000 Principle(Loan): $85,000 Rate of interest: 5 1/2% Years: 30

Monthly mortgage payment: $482.62 What is the total cost of interest?

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