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Mia Sato purchased a new condominium for $225,000. The bank required a $40,000 down payment. Assume...

Mia Sato purchased a new condominium for $225,000. The bank required a $40,000 down payment. Assume a rate of 11% on a 30-year mortgage.  

  1. What is Mia’s monthly payment?
  2. What is Mia's total interest cost if she pays each payment as scheduled for 30 years?
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