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You have just bought a home and financed it with a 4% 30-year mortgage in the amount of $200,000. a. What is the monthly payment

You have just bought a home and financed it with a 4% 30-year mortgage in the amount of $200,000.

a. What is the monthly payment on this mortgage ?

b. If you keep the home for the full term of the mortgage and make all of your payments on time, how much total interest will you pay over the life of the loan.

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