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Mr. John Smith borrowed $200,000 at 7.50% annual interest to buy a house. He has taken a 15 year mortgage and will be making monthly

Mr. John Smith borrowed $200,000 at 7.50% annual interest to buy a house. He has taken a 15 year mortgage and will be making monthly amortization payments. How much will Mr. Smith's monthly payment be?

Select one:

A. $1,202.65

B. $1,456.92

C. $1,678.09

D. $1,854.02

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