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Posted on Jul 25, 2024

Suppose you borrow $ 5 0 0 , 0 0 0 to buy a house. If your monthly payments on the 4 0 - year

Suppose you borrow $

500, 000

to buy a house. If your monthly payments on the

40 -

year mortgage are $

3, 856.81,

what interest rate are you paying? State your answer as an APR.

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