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Ironwood Bank is offering a 30-year mortgage with an APR of 5.90% based on monthly compounding. If you plan to borrow $157,000, what will be

Ironwood Bank is offering a

30-year

mortgage with an APR of

5.90%

based on monthly compounding. If you plan to borrow

$157,000,

what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.)

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