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You are buying your first house for $220,000, and are paying $30,000 as a down payment. You have arranged to finance the remaining $190,000 30-year

You are buying your first house for $220,000, and are paying $30,000 as a down payment.

You have arranged to finance the remaining $190,000 30-year mortgage with a 7% nominal interest rate and monthly payments.What are the equal monthly payments you must make?

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