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Ronnie wants to borrow $240,000 to buy a house. His bank is offering a 30-year loan that requires monthly payments with an interest rate of

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Ronnie wants to borrow $240,000 to buy a house. His bank is offering a 30-year loan that requires monthly payments with an interest rate of 8.0% compounded monthly. What would Ronnie's monthly payment be on this loan? Multiple Choice $1,761.7 $21,318.58 $19,200 $1,861.03

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