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You plan to purchase a $175,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered to you is 7.75%. You

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You plan to purchase a $175,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered to you is 7.75%. You will make a down payment of 20% of the purchase price. a. Monthly payments b. Amount of interest and separately principle paid in the 60th payment c. Amount of interest and separately principle paid in the 180th payment d. Amount of interest paid over the life of this mortgage

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