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You have a property under contract for $397,609. You plan to finance 80% of the purchase price. Your local mortgage banker has quoted you a

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You have a property under contract for $397,609. You plan to finance 80% of the purchase price. Your local mortgage banker has quoted you a rate of 4.89% for a 30-year mortgage. What will your monthly payment be on this property? Answer should be formatted as a dollar amount rounded to the nearest cent

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