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10) You bought an apartment building with $65,000 cash and a mortgage loan of $305,000. The loan was made at an interest rate of 3.95%

10)

You bought an apartment building with $65,000 cash and a mortgage loan of $305,000. The loan was made at an interest rate of 3.95% and requires monthly payments for 20 years. What are the monthly payments?

a.

$1,510.69

b.

$1,197.25

c.

$255.33

d.

$1,840.21

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