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You just taken out a $150,000 mortgage at an interest rate of 6 percent per year. If the mortgage calls for equal monthly payments for

You just taken out a $150,000 mortgage at an interest rate of 6 percent per year. If the mortgage calls for equal monthly payments for 20 years, the amount of each payment is:

A. $1,254.70

B. $1,263.06

C. $1,074.65

D. $1,625.00

E. $1,704.65

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