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What are the equal monthly payments must make

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Problem 1: You are buying your first house for RM220,000, and are paying RM30,000 as a down payment. You have arranged to finance the remaining RM190,000 30-year mortgage with a 7% nominal interest rate and monthly payments. What are the equal monthly payments you must make?

Select one:

a. RM1,264

b. RM1,110

c. RM1,513

d. RM1,976

Reference no: EM132929523

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