Rebecca and Tom Payton have decided to buy a home that costs $200,000. The Paytons can put down 20% of the home's price. They have applied for a 15-year, 9% FRM to finance the balance. They Paytons have a combined gross annual income of $70,000.

How much will the Paytons pay to satisfy their mortgage loan, if they make all the payments on time for the amount being financed?

$ 200,000
$ 174,400
$ 160,000
$ 292,108

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