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3. What is the monthly payment on a 30-year, $250,000 mortgage loan, if the interest rate is 4% compounded continuously? (5.25; answer is between $1000

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3. What is the monthly payment on a 30-year, $250,000 mortgage loan, if the interest rate is 4% compounded continuously? (5.25; answer is between $1000 and $1500)

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