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QUESTION 11 A young couple buys their dream house. After paying their down payment and closing costs, the couple has borrowed $400,000 from the bank.

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QUESTION 11 A young couple buys their dream house. After paying their down payment and closing costs, the couple has borrowed $400,000 from the bank. The terms of the mortgage are 30 years of monthly payments at an APR of 6% with monthly compounding. What is the monthly payment for the couple? A. $2,398.20 B. $2,421.63 C. $2,697.98 D. $2,700.00

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