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You are buying a cottage in Muskoka for $1.8 million, and are paying $725,000 down in cash.Today, you are financing the balance with a 25

You are buying a cottage in Muskoka for $1.8 million, and are paying $725,000 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 6.2%, what is the approximate amount of each loan payment?

Points:1

$11,818
$9,304
$7,058
$3,583

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