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You are purchasing a home valued at $225,000. You have saved enough for a 20% down payment. You have found a 30 year mortgage at

You are purchasing a home valued at $225,000. You have saved enough for a 20% down payment. You have found a 30 year mortgage at 3.375% and wanted to see if you will be able to afford the payments.

A. What is your monthly payment for this loan?

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