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Chelsea is buying her first condo for $200,000, and will make a $15,000 down payment. She has arranged to finance the remainder with a 30-year

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Chelsea is buying her first condo for $200,000, and will make a $15,000 down payment. She has arranged to finance the remainder with a 30-year mortgage at a 5.35% nominal interest rate. This amortized loan has monthly payments, with the first payment due in one month. What will her monthly payments be

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