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please explain this as if youre explaining it to a child! Question 3 (2 points) You are buying a new house, and you have negotiated

please explain this as if youre explaining it
to a child!
image text in transcribed
Question 3 (2 points) You are buying a new house, and you have negotiated a 15-year mortgage loan with a local bank for an amount $260,000 at 7.15 percent APR with monthly compounding. What would your monthly payment be? Round it to two decimal place (cents), e.g. 234.56

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