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Suppose you take out a 30-year mortgage for $217396 at an annual interest rate of 6.9%. After 9 years, you refinance to an annual rate
Suppose you take out a 30-year mortgage for $217396 at an annual interest rate of 6.9%. After 9 years, you refinance to an annual rate of 4.1%. When there are 9 years left on the loan, you refinance again to an annual rate of 2.3%. What are your monthly payments for the last 9 years?
Round your answer to the nearest dollar.
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