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Amanda takes out a $500,000 mortgage. It is a conventional fixed rate 15-year mortgage and she decides to pay 1 point. The nominal interest rate
Amanda takes out a $500,000 mortgage. It is a conventional fixed rate 15-year mortgage and she decides to pay 1 point. The nominal interest rate is 6.5%. What is Amanda's monthly payment? (principal and interest, ignore any other things that a lender might included in the monthly payment).
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