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You decide to borrow $250,000 to build a new home. The bank charges a monthly effective interest rate of .006667 . If you pay back
You decide to borrow $250,000 to build a new home. The bank charges a monthly effective interest rate of .006667 . If you pay back the loan over 30 years, what will your monthly payments be (rounded to the nearest dollar)? Instruction: Type your answer in dollars, and round to two decimal places. E.g., if your answer is $77.77, you should type ONLY the number 77.77 , neither $77.77,78, nor 77.8 . Otherwise, Blackboard will treat it as a wrong answer. You decide to borrow $250,000 to build a new home. The bank charges a monthly effective interest rate of .006667 . If you pay back the loan over 30 years, what will your monthly payments be (rounded to the nearest dollar)? Instruction: Type your answer in dollars, and round to two decimal places. E.g., if your answer is $77.77, you should type ONLY the number 77.77 , neither $77.77,78, nor 77.8 . Otherwise, Blackboard will treat it as a wrong
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