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Suppose a potential home buyer is interested in taking a $500,000 mortgage loan that has a term of 15 years and a fixed mortgage rate

Suppose a potential home buyer is interested in taking a $500,000 mortgage loan that has a term of 15 years and a fixed mortgage rate of 3.25%. What is the monthly mortgage payment that the homeowner would need to make if this loan is fully amortizing. Show all work.

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