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A home buyer will take out a mortgage of $280,000 for a new house. The mortgage will feature 30 years of monthly payments. The mortgage

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A home buyer will take out a mortgage of $280,000 for a new house. The mortgage will feature 30 years of monthly payments. The mortgage carries a 4.80% APR (with monthly compounding). What will be the monthly payment on this mortgage? (round to the nearest dollar) $1,187 $940.20 $1,483 $1,469 $1,175 12

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