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(1 point) Andy takes out a 15-year mortgage of 150000 dollars to purchase a home. If the nominal rate of interest is 7.8 percent convertible

(1 point) Andy takes out a 15-year mortgage of 150000 dollars to purchase a home. If the nominal rate of interest is 7.8 percent convertible monthly, and the first payment is due one month from now, how much is his monthly payment? Answer = 1463.42 dollars

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