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What is the monthly mortgage payment

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You are about to purchase a house for $650,000. Luckily you have a down payment of $150,000 and can take out a mortgage to finance the rest of the cost of the house. The bank says the mortgage rate is 4.75% compounded semi-annually. What is the monthly mortgage payment if the mortgage amortization period is 25 years?

Reference no: EM133068591

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