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President LaForge recently purchased his first home in Cleveland, MS. The house has a 15-year, 165,000 mortgage. The mortgage has a nominal annual interest rate
President LaForge recently purchased his first home in Cleveland, MS. The house has a 15-year, 165,000 mortgage. The mortgage has a nominal annual interest rate of 7.75%. All mortgage payments are made at the end of the month.
What is the monthly payment on the mortgage?
Group of answer choices
$1,283.61
$1,065.63
$1,553.11
/41,581.97
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