You're buying your first house for $800,000. You're putting 20% down payment, and borrowing the rest. The bank will give you a 30-year mortgage loan with an interest rate [APR] of 3.08% per year.

Q4. How much is your monthly payment?

Select one:

a. $1,000 to $1,500

b. More than $2,500

c. $2,000 to $2,500

d. $1,500 to $2,000

e. Less than $1,000