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A couple borrows $200,000 for a mortgage that requires fixed monthly payments over 30 consecutive years. The first monthly payment is due in one month.

A couple borrows $200,000 for a mortgage that requires fixed monthly payments over 30 consecutive years. The first monthly payment is due in one month. If the interest rate on the mortgage is 8%, which of the following comes closest to the monthly payments?

A$1,468

B$1,765

C$1,881

D$6,666

E$1,333

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