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You are considering buying a house. In order to buy the house you will borrow $300,000 today at a rate of 6.0 percent nominal interest,
You are considering buying a house. In order to buy the house you will borrow $300,000 today at a rate of 6.0 percent nominal interest, compounded monthly. You will make monthly payments with the first payment due one month from today. The loan will be a fixed rate 30-year loan. How much will the payments be on the house? A. $1,798.65 B. $1,789.70 C. $298.65 D. $18,000.00 E. $840.88
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