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1. A borrower takes out a 15-year mortgage loan for $250,000 with an interest rate of 6%. What would the monthly payment be? (A) $694

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1. A borrower takes out a 15-year mortgage loan for $250,000 with an interest rate of 6%. What would the monthly payment be? (A) $694 (B) $1,042 (C) $1,342 (D) $1,355 (E) $2,110

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