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What is the amount of each mortgage payment

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Island News purchased a piece of property for $2.79 million. The firm paid a down payment of 15 percent in cash and financed the balance. The loan terms require monthly payments for 30 years at an annual percentage rate of 3.75 percent, compounded monthly. What is the amount of each mortgage payment? (If possible, please show financial calculator inputs?)

Reference no: EM132478416

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