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help solve 16. You are buying a house priced at $354,125. You plan to pay 20% of the price for down payment and finance the

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16. You are buying a house priced at $354,125. You plan to pay 20% of the price for down payment and finance the rest. The mortgage loan you need to borrow lasts 30 years and requires 4.25% interest rate per annum. What is your payment EACH MONTH for the mortgage loan? (9 points)

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