The price of a house is $500,000. You make a down payment of $50,000 and take a 30-year mortgage at 4% annual rate to pay for the rest. a) What is your monthly payment? "The monthly payment is b) What is the total amount that you pay to own the house? "The total amount paid for the house is c) How much interest do you pay over the life of the loan? "The amount paid for interest over the life of the loan is "} "1

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