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Suppose you are buying your first home for $420,000, and you have $15,000 for your down payment. You have arranged to finance the remainder with

Suppose you are buying your first home for $420,000, and you have $15,000 for your down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be? Select the correct answer. a. $2,550.28 b. $2,556.68 c. $2,559.88 d. $2,563.08 e. $2,553.48

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