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1. John and Patrice Martin would like to purchase a home. To help finance the purchase, they will borrow $250,000 from Wells Fargo. the bank

1. John and Patrice Martin would like to purchase a home. To help finance the purchase, they will borrow $250,000 from Wells Fargo. the bank will charge 6 percent annual interest, compounded monthly (0.005 per month). The mortgage will be repaid through monthly payments over 15 years (180 payments). What is John and Patrice's monthly mortgage payment?

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