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Question - You bought a house with price of $500,000. Your LTV (loan-to-value ratio) is 80%. You choose the 30-year mortgage with interest rate 5%. Assuming the total transaction cost is $5,000. What is your monthly payment?

a. $25,695.32

b. $26,020.57

c. $2,147.29

d. $2,120.45

Reference no: EM132804274

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