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You are considering purchasing a new home. You will need to borrow $200,000 to purchase the home. A mortgage company offers you a 15-year fixed

You are considering purchasing a new home. You will need to borrow $200,000 to purchase the home. A mortgage company offers you a 15-year fixed rate mortgage (180 months) at 0.55% per month. If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to

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