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Donaldson's purchased some property for $1.2 million, paid 25 percent down in cash, and financed the balance for 12 years at 7.2 percent, compounded monthly.

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Donaldson's purchased some property for $1.2 million, paid 25 percent down in cash, and financed the balance for 12 years at 7.2 percent, compounded monthly. What is the amount of each monthly mortgage payment? $8, 440.01 $8, 978.26 $9, 351.66 $9.39918 $9, 513.67

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