Question: QUESTION 4 You plan to purchase an $80,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered is 8%

QUESTION 4 You plan to purchase an $80,000 house using a 15-year

QUESTION 4 You plan to purchase an $80,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered is 8% and you will need to make a down payment of 20% of the offer price. Calculate the amount of interest paid over the life of this mortgage.

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