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You want to buy a house that costs $ 2 2 0 , 0 0 0 . You will make a down payment equal to

You want to buy a house that costs $220,000. You will make a down payment equal to 15% of the price of the house and finance the remainder with a loan that has an APR of 5.23% compounded monthly. If the loan is for 25 years, what are your monthly mortgage payments? (10 marks)

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