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02-05-2024
Mathematics

Answered

Lindsey took out an 80/20 mortgage to buy a house costing $145,000. The first (80%) mortgage has an interest rate of 4.75%, and the second (20%) mortgage has an interest rate of 7.525%. Both the first mortgage and the second mortgage are 30-year fixed-rate mortgages. What is her monthly payment on the first mortgage? A. $730.31 B. $605.11 C. $643.12 D. $667.87

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