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Suppose you buy a $1.1 million house and put $500,000 down. You search for rates and find Amerisave offering 30-year fixed rate mortgages at 4%.

Suppose you buy a $1.1 million house and put $500,000 down. You search for rates and find Amerisave offering 30-year fixed rate mortgages at 4%. What is your monthly payment for the 4% mortgage?

a. 3,660.49

b. 2,864.49

c. 2,530.49

d. 2,673.52

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