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Suppose you bought a $1 million dollar house. You made a $200,000 down payment and borrowed the remaining $800,000 through a standard, 30-year fixed rate

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Suppose you bought a $1 million dollar house. You made a $200,000 down payment and borrowed the remaining $800,000 through a standard, 30-year fixed rate mortgage with an interest rate of 8% per year, compounded monthly. (This means that the actual monthly interest is simply 8% divided by 12 ). What is your monthly mortgage payment

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