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The Smith family is buying a new 3,500-square-foot house in Muncie, Indiana, and will borrow $200,000 from Bank One at a rate of 5.001 percent
The Smith family is buying a new 3,500-square-foot house in Muncie, Indiana, and will borrow $200,000 from Bank One at a rate of 5.001 percent for 15 years. What will be their monthly loan payment? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g. 15.25.)
Monthly loan payment | $ ______ |
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