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You are buying a house for $220,000.00 with a downpayment of $44,000.00. The loan will be paid back over 30 years with monthly payments of

You are buying a house for $220,000.00 with a downpayment of $44,000.00. The loan will be paid back over 30 years with monthly payments of $1,089.40. If the interest rate is 6.3% compounded monthly, what would the smaller concluding payment be?

The concluding payment would be $. (Round to 2 decimal places.)

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