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What is your monthly payment

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Question - You have just purchased a $325,000 home. Your down payment was $45,000, so your mortgage on the home is $280,000. You were able to obtain a 15-year mortgage from your financial institution at a nominal annual rate of 3.0%. Your monthly payments will be made at the end of each month. What is your monthly payment?

Reference no: EM133173867

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