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When Chang bought his house, he got his mortgage through his credit union. The mortgage was a personal, amortized loan for $92,500, at an interest
When Chang bought his house, he got his mortgage through his credit union. The mortgage was a personal, amortized loan for $92,500, at an interest rate of 3.7%, with monthly payments for a term of 25 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. 5 ? (a) Find Chang's monthly payment. $] (b) If Chang pays the monthly payment each month for the full term, find his total amount to repay the loan. $ (C) If Chang pays the monthly payment each month for the full term, find the total amount of interest he will pay. si
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