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A friend of yours has just bought a house for which he used a mortgage loan of $254,300. The APR for this loan is 4.00

A friend of yours has just bought a house for which he used a mortgage loan of $254,300. The APR for this loan is 4.00 percent, with monthly compounding. The loan terms require monthly payments for 30 years. Calculate the required amount of each mortgage payment for your friend. Group of answer choices $1,214.07 $1,087.66 $986.74

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