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You are buying a condo in Oakville for $1.55 million, and are paying $675,000 down in cash. Today, you are financing the balance with a

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You are buying a condo in Oakville for $1.55 million, and are paying $675,000 down in cash. Today, you are financing the balance with a 25 year loan with monthly payments. If this loan has an annual percentage rate of 7.32 percent, what is the approximate amount of each loan payment? A $6,000 B $6,364 $7,058 D) $10,910

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