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Can you please provide the explanation, formula and correct answer for the problem above? What is the monthly payment for the following mortgage? Loan amount:

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Can you please provide the explanation, formula and correct answer for the problem above?

What is the monthly payment for the following mortgage? Loan amount: $30,000 10 years to maturity Interest rate: 12% Select one: a. $425.67 b. $420.03 c. $438.99 d. $250.51 e. $430.41

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