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A $ 3 0 0 , 0 0 0 monthly compounded home loan has a stated interest rate of 6 % and a term of

A $

300, 000

monthly compounded home loan has a stated interest rate of

6 %

and a term of

30

years. What is the monthly payment on the loan?

2, 494

1, 920

1, 799

2, 106

none of these

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