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8 . You are applying for a mortgage loan at 5 . 2 5 % over 3 0 years with monthly payments. The home you

8. You are applying for a mortgage loan at 5.25% over 30 years with monthly payments. The home you are considering is at a price of $229,000. Lenders are offering 80% loan to value mortgages to you. What will be your monthly mortgage payment for principal and interest?
a. $623.22
b. $653.81
c. $901.23
d. $1,011.64

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