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The Macdonalds ended up purchasing a house for $830,000. They made a 20% down payment and amortized the balance over 25 years. The interest rate
The Macdonalds ended up purchasing a house for $830,000. They made a 20% down payment and amortized the balance over 25 years. The interest rate was 3.8% compounded semi-annually, for a five-year term.
Find the size of their monthly payment.
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