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Determine your monthly mortgage payment

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Reference no: EM133104718

Question - You are considering purchasing a new home. You will need to borrow $250,000 to purchase the home. A mortgage company offers you a 15 year fixed rate mortgage (180 months) at 3% APR. If you borrow the money from this mortgage company, determine your monthly mortgage payment?

A. $1,726.45

B. $7,536.85

C. $1,660

D. $2,535

Reference no: EM133104718

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