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1. Derek borrows $254,684.00 to buy a house. He has a 30-year mortgage with a rate...

1. Derek borrows $254,684.00 to buy a house. He has a 30-year mortgage with a rate of 5.53%. The monthly mortgage payment is $________.

Answer format: 2 decimal places

2. Derek borrows $253,520.00 to buy a house. He has a 30-year mortgage with a rate of 5.87%. After making 118.00 payments, how much does he owe on the mortgage?

Answer format: 2 decimal places
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