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2) Ironwood Bank is offering a 25-year mortgage with an APR of 6.00% based on monthly compounding. If you plan to borrow $154,000, what will

2) Ironwood Bank is offering a 25-year mortgage with an APR of 6.00% based on monthly compounding. If you plan to borrow $154,000, what will be your monthly payment?

(Note: Be careful not to round any intermediate steps less than six decimal places.)

The loan payment is $______. (Round to the nearest cent.)

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