Your sister just got marriedshe and her new husband have, Financial Management

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Your sister just got marriedshe and her new husband have

Your sister just got married.She and her new husband have found a home to buy that is selling for $130,000 :They will put down $20,000 and obtain a 30-year fixed-rate mortgage at 9% for the remainder.

How much interest will they pay (in dollars) over the life of the loan? (Assume they make each of the required 360 payments on time.)

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