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A home selling for $280000 is to be purchased with a 20% down payment and the remainder financed through a mortgage with monthly payments over

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A home selling for $280000 is to be purchased with a 20% down payment and the remainder financed through a mortgage with monthly payments over 30 years. Determine the monthly payment if rates for such a mortgage stand at 5.7%/year compounded semi-annually. (Enter the value only; do NOT add a $ sign.)

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