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You are about to buy a home; the purchase price of the car is $200,000 and you are paying 10% of that amount as a

  1. You are about to buy a home; the purchase price of the car is $200,000 and you are paying 10% of that amount as a down payment and financing the remainder. Your mortgage loan terms are 30 years of monthly payments at an annual rate of 3.25%.
    1. How much are your monthly mortgage payments?
    2. Over the life of the loan, how much did you pay in interest?

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