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You are contemplating buying your first house and want to be sure that you can afford the mortgage payments. Your bank is offering a 30-year,

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You are contemplating buying your first house and want to be sure that you can afford the mortgage payments. Your bank is offering a 30-year, fixed-rate mortgage with a loan amount of $275,000 and an annual interest rate of 5.25%. What would the monthly payment be on this loan

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