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Use the following amortization chart: Selling price of home Down payment...

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Accounting

Use the following amortization chart:

Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment
$ 87,000 $ 4,000 $ 83,000 5.5% 30 $ 5.68 $ 471.44

What is the total cost of interest? (Do not round intermediate calculations. Round your answer to the nearest whole dollar.)

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