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Lou purchases a home for $350,000. He makes a down payment of 20% and finances the...

Lou purchases a home for $350,000. He makes a down payment of 20% and finances the remaining amount with a 15-year mortgage with an annual percentage rate of 4.25%.

a. Find his monthly mortgage payment (excluding taxes and fees).
b. How much principal and interest will he end up paying for his house?
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