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You are interested in taking advantage of a depressed housing market. You find a home currently selling for $275,000 and you will make a down

You are interested in taking advantage of a depressed housing market. You find a home currently selling for $275,000 and you will make a down payment of $25,000. You feel that you will qualify for a rate of 4.8% on a 30-year fixed mortgage. What will be your approximate monthly payment including principal and interest?

Answers:

A. $656

B. $694

C. $1,306

D. $1,312

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