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a mortgage with $85,000 loan amount, monthly payments; a quoted rate of 5.0% compounded quarterly, 25 year amortization, and a 5 year term. What is

a mortgage with $85,000 loan amount, monthly payments; a quoted rate of 5.0% compounded quarterly, 25 year amortization, and a 5 year term. What is the amount of the payment?

a. $ 475.89

b. $ 495.88

c. $ 653.08

d. $ 494.37

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