Mathematics, 01.12.2020 23:10 AM28

Nicolaus Copernicus and his wife have decided to purchase a cabin in the country. They have applied for a mortgage loan of $175,000 at 5.5% for a period of 25 years. They will pay
it off in equal monthly payments that include interest. Find the monthly payment, the amount
paid, and the total interest charged. Use the algebraic concepts as learned in lesson 10.2 to
calculate the monthly payment.

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