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you are buying your first house for $220,000, and are paying $20,000 as a down payment. You have arranged to finance the remaining $200,000 as

you are buying your first house for $220,000, and are paying $20,000 as a down payment. You have arranged to finance the remaining $200,000 as a 30 year mortgage with a 7 percent nominal interest rate and monthly payments. WHat are the equal monthly payments you must make if payments are made at the beginning of each period?

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