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Suppose a borrower takes out a $ 4 5 5 , 0 0 0 , 1 5 - year mortgage with a fixed annual interest
Suppose a borrower takes out a $year mortgage with a fixed annual interest rate of In addition to monthly payments of principal and interest, the lender will also require the borrower pay PMI monthly. The lender will also require the borrower to pay escrow taxes and insurance by making escrow payments. The property taxes are $ insurance is $ What is the amount of the borrower's total monthly payment to the lender?
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