Laura and Martin obtain a 30 year 150 000 conventional mortgage at 9 0 on...
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Laura and Martin obtain a 30 year 150 000 conventional mortgage at 9 0 on a house selling for 180 000 Their monthly mortgage payment including principal and interest is 1207 50 a Determine the total amount they will pay for their house b How much of the cost will be interest c How much of the first payment on the mortgage is applied to the principal a The total amount that Laura and Martin will pay for their house is Round to the nearest dollar as needed b They will pay a total of Sin interest Round to the nearest dollar as needed c of the first mortgage payment is applied to the principal Round to the nearest cent as needed
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