Ingrid obtains a 30-year, $63,750 conventional mortgage at a 8.5% rate on a house selling for $75,000.

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Ingrid obtains a 30-year, $63,750 conventional mortgage at a 8.5% rate on a house selling for $75,000. Her monthly payment, including principal and interest, is $490.18. She pays 0 points.

HOUSE FOR SALE

(a) Determine the total amount Ingrid will pay for her house.

(b) How much of the cost will be interest?

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 08:13 AM

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Ingrid obtains a 30-year, $63,750 conventional mortgage at a 8.5% rate on a house selling for $75,000.

Question:

HOUSE FOR SALE

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a 490183012 17646480 1764...View the full answer

A Survey of Mathematics with Applications

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