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You have just arranged for a $200,000 mortgage to finance the purchase of a house. The mortgage has an 8 percent quoted rate, interest is
You have just arranged for a $200,000 mortgage to finance the purchase of a house. The mortgage has an 8 percent quoted rate, interest is compounded semi-annually and it calls for monthly payments for the next 20 years. What is the monthly payment? $10,104.70 $1,672.88 $1,656.72 $2,782.51
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