Bank charges an interest rate

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You decide to borrow $250,000 to build a new home. The bank charges an interest rate of 4% compounded monthly. If you pay back the loan over 30 years, what will your monthly payments be (rounded to the nearest dollar)? A. $1,194 B. $1,342 C. $1,499 D. $1,687

Reference no: EM131581263

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