What will your monthly payments be

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Reference no: EM131603403

Suppose you are buying your first condo for $300,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?

a. $1,369.06

b. $2,179.69

c. $2,215.71

d. $1,801.39

e. $1,459.13

Reference no: EM131603403

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