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You and your spouse have found your dream home in Blackjack, MO. The price is $100,000. You can finance your home for 30-years at a

You and your spouse have found your dream home in Blackjack, MO. The price is $100,000. You can finance your home for 30-years at a 7.25% annual rate of interest.

Assume that monthly payments begin in one month. What will each payment be?

How much interest will you pay (in dollars) over the life of the loan?

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