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What is the required monthly payment on a $650,000.00 mortgage. Assume a standard mortgage (360 months) with monthly payments. Use a nominal rate (monthly compounding)
What is the required monthly payment on a $650,000.00 mortgage. Assume a standard mortgage (360 months) with monthly payments. Use a nominal rate (monthly compounding) of 6.30%.
a. | $3,979 |
b. | $3,904 |
c. | $4,173 |
d. | $4,023 |
e. | $3,864 |
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