Humphrey purchases a 130,000 home. Mortgage payments are to be made monthly for 30 years,...
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Humphrey purchases a 130,000 home. Mortgage payments are to be made monthly for 30 years, with the first payment to be made one month from now. The annual effective rate of interest is 7%. After 8 years, the amount of each payment is increased by 84.30 in order to repay the mortgage more quickly. Calculate the amount of interest paid over the duration of the loan. [6.a #49] O 148.700 159.200 152,200 155.700 145.200
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