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You finance your lake house purchase by borrowing $130,000 at 3.0% per year compounded monthly. The loan terms require equal monthly payments for 23 years.

You finance your lake house purchase by borrowing $130,000 at 3.0% per year compounded monthly. The loan terms require equal monthly payments for 23 years. What is the size of your monthly payment? $enter a dollar amount

Round your answer to a whole number. The tolerance is 50.

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