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Suppose the Bank of Montreal is offering a 30-year mortgage with an EAR of 5.125%. If you plan to borrow $160,000, what will your monthly

Suppose the Bank of Montreal is offering a 30-year mortgage with an EAR of

5.125%. If you plan to borrow

$160,000, what will your monthly payment be?(Note: Be careful not to round any intermediate steps less than six decimal places.)

Your monthly payment will be $

nothing

. (Round to the nearest cent.)

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