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Oppenheimer Bank is offering a 25-year mortgage with an APR of 9.00%. If you take a loan of $160,000, what will your monthly payment be?

Oppenheimer Bank is offering a 25-year mortgage with an APR of 9.00%. If you take a loan of $160,000, what will your monthly payment be? [Remember, if the cash flows are monthly, all other variables in your annuity math (or in Excel or on a financial calculator) must be in months or per month.

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