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A borrower takes out a 30-year mortgage loan for $250,000 with an interest rate of 5 percent. What would the monthly payment be? a) 1,355

A borrower takes out a 30-year mortgage loan for $250,000 with an interest rate of 5 percent. What would the monthly payment be?

a)1,355

b)1,342

c) 694

d)1,042

Answer is 1,342 but need help with work!!!

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