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Years ago Rutgers University purchased property for $3,400,000 and made a down payment of 10 percent and financed the balance through a mortgage for 20

Years ago Rutgers University purchased property for $3,400,000 and made a down payment of 10 percent and financed the balance through a mortgage for 20 years, payable monthly at 5.75% interest. What is the monthly mortgage payment?

		a. $12,322.35
		b. $13,419.97
		c. $21,483.76
		d. $24,878.15
		e. $25,301.16

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