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13-12-2022
Mathematics

Answered

Gabrielle and Dwayne saved up for a house. Their offer of $425,000 was accepted. They have a 15%
downpayment and found a loan that offered 3.17% for 15-year mortgage.
(a) What will be their monthly P & I payment? Show the setup.
(b) How much interest will they pay over the life of the loan? Show your work/reasoning.

Answer :

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