The cost to purchase the house that Bainters are considering is $195,000 but the Bainters plan to make a $40,000 down payment. The Bainters have been approved for a fixed-rate, 30-year mortgage with a 4.2% annual interest rate for the remaining costs. The Bainters want to know how much they would pay on their loan each year as well as how much they would

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Q: Thank you! I have a follow-up question, how much will the loan cost him?

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