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You are considering purchasing a new home. You will need to borrow $ 240000 to purchase the home. A mortgage company offers you a 15

You are considering purchasing a new home. You will need to borrow

$ 240000

to purchase the home. A mortgage company offers you a

-year

fixed rate mortgage

(180

months) at

9 % APR

(0.75

month). If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to

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