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OpenStudy (anonymous):
Darren is purchasing a home for $973,000. He makes a 25% down payment and obtains a 20-year fixed rate mortgage loan at 8% annual interest. His monthly payments are $6,103.92. He pays an intangible tax of 0.7%. Which of the following is the total cost of principal, interest, down payment, and intangible tax? $1,713,299.05 $1,464,940.80 $1,715,001.80 $1,470,049.05
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