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FinanceQ&A LibraryA family needs to take out a 15-year home mortgage loan of $100,000 through a local bank. Annual interest rates for 15-year mortgages at the bank are 6.6% compounded monthly. (a) Compute the family's monthly mortgage payment under this loan. (b) How much interest will the family pay over the life of the loan?Start your trial now! First week only $4.99!*arrow_forward*

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