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You want to buy a house that costs $265,000. You will make a down payment equal to 15 percent of the price of the house

You want to buy a house that costs $265,000. You will make a down payment equal to 15 percent of the price of the house and finance the remainder with a loan that has an APR of 5.41 percent compounded monthly. If the loan is for 25 years, what are your monthly mortgage payments?

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Multiple Choice

  • $1,371.15

  • $1,387.09

  • $1,365.00

  • $1,439.71

  • $1,325.45

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