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Question 2 4 pts The McDonald Group purchased a piece of property for $1 million. It paid a down payment of 20% in cash and

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Question 2 4 pts The McDonald Group purchased a piece of property for $1 million. It paid a down payment of 20% in cash and financed the balance. The loan terms require monthly payments for 15 years at an annual percentage rate of 7.75% compounded monthly What is the amount of each mortgage payment? (choose the closest answer) $7,530.21 O $8,978.26 $9.036.25 O $9,399.18

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