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Using the Mortgage Payment Formula, calculate a monthly mortgage payment for a home with the...

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Accounting

Using the Mortgage Payment Formula, calculate a monthly mortgage payment for a home with the price of $405,000 using pencil and paper. Your down payment is 10% of your own money apart from the loan. Calculate the total paid for your home after paying the monthly payment for 15 years factoring in the rate of 2.500% and APR of 2.556%. You can use arithmetic. How much money will you pay in interest over 15 years? All Calculations must be shown.

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