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You have decide to finance your $250,000 new house over 30 years. Assume you borrowed 80% cost of the house, and the annual interest rate

You have decide to finance your $250,000 new house over 30 years. Assume you borrowed 80% cost of the house, and the annual interest rate is 6%.

1. What is your monthly payment?

2. How much interest is paid over all the life of the 30 years loan?

3. How much will you owe on your loan after your 180th monthly payment?

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