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You are thinking of purchasing a house. The house costs $ 7 0 0 , 0 0 0 . You have $ 2 0 0

You are thinking of purchasing a house. The house costs $700,000. You have $200,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage with monthly payments and has an APR of 6%.
(1) What will your monthly payment be?
(2) How much of the principal is still owed after one year?
(3) How much will you pay in interest during the first year?
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