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A family just signed the sales agreement to purchase a home at the asking price of $625,000. They decided to use their savings as the

A family just signed the sales agreement to purchase a home at the asking price of $625,000. They decided to use their savings as the 10% down payment and finance the remaining with a 30-year FRM mortgage loan at an annual interest rate of 5.875%. What would be the monthly payment? What would be the annual payment if this loan is annually amortized?

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