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You purcahse a $255,000 house and you pay 20 percent down. You obtain a fixed-rate mortgage where the annual interest rate is 5.85 percent and

You purcahse a $255,000 house and you pay 20 percent down. You obtain a fixed-rate mortgage where the annual interest rate is 5.85 percent and there are 360 monthly payments. What is the monthly payment?

a.) $1,215.27

b.) $1,203.48

c.) $1,194.45

d.) $1,367.22

I would like to know how to solve this equation using either a HP 10bII+ financial calculator or TI-84 Plus C.

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