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You are planning to buy an apartment for $250,000. You have $50,000 of your own savings and would like to borrow the rest. The bank

You are planning to buy an apartment for $250,000. You have $50,000 of your own savings and would like to borrow the rest. The bank offers a 30-year mortgage with EAR of 5%. What will the monthly payment! Calculate it without excel!

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