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Jane has just purchased an apartment for $250,000. Her down payment is $70,000 and the remaining amount of the purchase will be financed using a

Jane has just purchased an apartment for $250,000. Her down payment is $70,000 and the remaining amount of the purchase will be financed using a 20 year mortgage. The bank as quoted her a rate of 5.6% with semi-annual compounding and monthly payments. How much will her monthly payments be?

Question 26 options:

	$1,725
	$1,448
	$1,242
	$987

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