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Chip is putting $30,000 down to purchase a $150,000 house. Chip is preapproved for a conventional mortgage with a 3.75% annual interest rate for 30

Chip is putting $30,000 down to purchase a $150,000 house. Chip is preapproved for a conventional mortgage with a 3.75% annual interest rate for 30 years. How much should Chip expect for a monthly payment? (Please show your work.)

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