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A homeowner takes out a $387,000, 30-year fixed-rate mortgage at a rate of 5.35 percent. What are the monthly mortgage payments? (Do not round intermediate

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A homeowner takes out a $387,000, 30-year fixed-rate mortgage at a rate of 5.35 percent. What are the monthly mortgage payments? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Monthly payment

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