What is your monthly payment

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Question - You have just purchased a $420,000 home. Your down payment was $50,000, so your mortgage on the home is $370,000. You were able to obtain a 20-year mortgage from your financial institution at a nominal annual rate of 4.2%%. Your monthly payments will be made at the end of each month. What is your monthly payment?

Reference no: EM133156680

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