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Mortgage Loan A couple decides to buy a 2-bedroom, 2-bath condo in Los Gatos which is listed for $665,000 . They plan to put 20%

Mortgage Loan

A couple decides to buy a 2-bedroom, 2-bath condo in Los Gatos which is listed for$665,000. They plan to put20% down.They have been pre-approved for a30-yearmortgage at a3.75%annual percentage rate. They will makemonthly paymentswith the first payment dueone month afterthe purchase is complete.

If they are able to obtain the property at the listing price, how much will theirmonthly paymentsbe?

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