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3. You received a $20,000 fixed-rate mortgage loan which requires you to make fixed monthly payments for the next 3 years at a market
3. You received a $20,000 fixed-rate mortgage loan which requires you to make fixed monthly payments for the next 3 years at a market mortgage rate of 6% per year. You have signed the mortgage contract today. How much will you be paying per month? (20)
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