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You plan to buy a studio apartment by taking a 30-year mortgage loan of $200,000 from a local bank, with charges on APR of 4.8%.

You plan to buy a studio apartment by taking a 30-year mortgage loan of $200,000 from a local bank, with charges on APR of 4.8%. The mortgage loan requires monthly payments. How much will be your monthly loan payment?

a. 1157.32

b.1049.33

c.1223.68

d. 1276.44

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