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You are buying a new home, and you have negotiated a 15-year mortgage loan with a local bank for an amount $301,000 at 4.87 percent

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You are buying a new home, and you have negotiated a 15-year mortgage loan with a local bank for an amount $301,000 at 4.87 percent APR with monthly compounding. What would your monthly payment be? Round it to two decimal place (cents), e.g., 234.56. Your

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