What is lories monthly mortgage payment

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Reference no: EM133428946

Question: Lorie is trying to determine her monthly mortgage payments. She is purchasing a $800,000 home and has $60,000 to put down as a down payment. She has shopped around and decided to proceed with a 5-year fixed mortgage at 5%, compounded semi-annually, amortized over 25 years with TD bank. What is Lorie's monthly mortgage payment? Round to the nearest dollar.

Reference no: EM133428946

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