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You have just taken out a 20-year, $200,000 mortgage on your new home. This mortgage is to be repaid in equal end-of-month instalments. If the

You have just taken out a 20-year, $200,000 mortgage on your new home. This mortgage is to be repaid in equal end-of-month instalments. If the nominal interest rate on the mortgage is 3.5 percent, what is the amount of each monthly payment?

1159.92

O 932.23

O 895.47

563.40

O 898.09

O 467.78

1429.77

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