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You take out a 2 5 - year mortgage for $ 3 9 5 , 0 0 0 to buy a new house. What will

You take out a
2
5
-
year mortgage for $
3
9
5
,
0
0
0
to buy a new house. What will your monthly payments be if the interest rate on your mortgage is
8
percent? Use a spreadsheet to calculate your answer. Now, calculate the portion of the
6
0
th monthly payment that goes toward interest and principal. Use five decimal places for the monthly interest rate in your calculations.
Using a soreadsheet to calculate your answer, your monthly payments will be
?

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