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Ranjit has applied for a mortgage loan to buy a $ 6 9 9 0 0 0 house. The bank will require a 2 0

Ranjit has applied for a mortgage loan to buy a $ 699000 house. The bank will require a 20% down payment and it will give Ranjit a 25-year loan payable in monthly instalments. The nominal interest rate is set at 10.4% convertible quarterly. How much will be Ranjis monthly payment? (Assume that payments are due at the end of each month)a.$ 5153(to the nearest dollar)b.$ 4955(to the nearest dollar)c.$ 5056(to the nearest dollar)d.$ 5157(to the nearest dollar)e.$ 5205(to the nearest dollar)

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