omar5641 omar5641

08-12-2022
Mathematics

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Eric took out an 80/20 mortgage to buy a $175,000 house. The first (80%)
mortgage has an interest rate of 4.75%, and the second (20%) mortgage has
an interest rate of 7.525%. Both mortgages are 30-year fixed-rate mortgages..
What is the total mortgage payment for this house?

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