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Suppose you buy your first home for $260,000, and you have $10,000 for your down payment. You have arranged to finance the remainder with a

Suppose you buy your first home for $260,000, and you have $10,000 for your down payment. You have arranged to finance the remainder with a 30-year annual payment amortized mortgage at a 6.0% nominal interest rate, with the first payment due in one year. What will your annual payments be?

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