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Tom Henderson takes out a $120,000 mortgage. He paid 1.6% of the loan amount in closing costs and $8,962.49 in total interest the first year of the loan.
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Tom Henderson takes out a $120,000 mortgage. He paid 1.6% of the loan amount in closing costs and $8,962.49 in total interest the first year of the loan.

User Foxhunt
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119998.40 120000-1.60=119998.4 Hope I helped out some!!
User TreantBG
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