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13-04-2024
Mathematics

Answered

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Part 1
Borrowers with higher credit scores are rewarded with lower interest rates on home mortgages. Suppose a loan of $191 comma 000 is needed to purchase a home. A borrower with a 720+ credit score may receive an interest rate of 3.500% for a 20-year mortgage. What is the total interest paid over the life of the loan?
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Part 1
The total interest paid is $

enter your response here.
(Round to the nearest cent as needed.)

Answer :

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