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You purchase a home for $275,000 with a 10% down payment. You choose a 30-year mortgage loan at 7.75% quotes interest. What is the total
You purchase a home for $275,000 with a 10% down payment. You choose a 30-year mortgage loan at 7.75% quotes interest. What is the total amount of interest paid in the first 4 years combined? Assume monthly payments. Hint: Use the amortization feature in the financial calculator or create an amortization table in Excel. Round to the nearest 0.01
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