What is the monthly payment for this purchase

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Reference no: EM131070746

URGENT: A house is priced at $125,000. A down payment of $25,000 has been made. Equal payment will be installed every month, so that the loan can be repaid in 10 years. The annual interest rate is 12.00%, compounded monthly. What is the monthly payment for this purchase? (Show Process/work and Justify Answer please)

Reference no: EM131070746

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