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When Chris bought his townhome, he got his mortgage through a bank. The mortgage was a personal, amortized loan for $92,000, at an interest rate
When Chris bought his townhome, he got his mortgage through a bank.The mortgage was a personal, amortized loan for $92,000, at an interest rate of 3.8%, with monthly payments for a term of 30 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. (a) Find Chris' monthly payment. $ (b) If Chris pays the monthly payment each month for the full term, find his total amount to repay the loan. $ (c) If Chris pays the monthly payment each month for the full term, find the total amount of interest he will pay. $
The mortgage was a personal, amortized loan for $92,000, at an interest rate of 3.8%, with monthly payments for a term of 30 years.
For each part, do not round any intermediate computations and round your final answers to the nearest cent.
(a) Find Chris' monthly payment.
$
(b) If Chris pays the monthly payment each month for the full term, find his total amount to repay the loan. $
(c) If Chris pays the monthly payment each month for the full term,
find the total amount of interest he will pay.
$
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