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To buy a house, you need to take out a 200,000 fixed rate mortgage with 30 years to maturity, 360 equal monthly payments, and a
To buy a house, you need to take out a 200,000 fixed rate mortgage with 30 years to maturity, 360 equal monthly payments, and a quoted interest rate of 5%. (You could also call this 5% APR, compounded monthly.) What will be your monthly mortgage payment?
Please use excel and show work
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