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How much is the monthly payment for the mortgage

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Question - CHALLENGE PROBLEM - Gary Penn owns a $150,000 brick home. He insures it for 100% of its replacement value. His rate of assessment is 35%, his tax rate is 51.53 mills, and his fire protection is rated class 6. He has a $120,000.00 mortgage at 8% for 20 years. How much is the monthly payment for the (a) mortgage, (b) real estate taxes, (c) insurance, and (d) total monthly payment?

Reference no: EM133185195

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