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Determining the monthly mortgage payment

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Reference no: EM131317843

You borrow $200,000 to buy a house. The mortgage interest rate is 4.5 percent and the loan period is 30 years. Payments are mademonthly. What is your monthly mortgage payment?

  • $953.70
  • $1013.37
  • $1153.70
  • $12.53.70

Reference no: EM131317843

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