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If you have to pay off an effective 6.5% loan within the standard 30 years,...

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Finance

If you have to pay off an effective 6.5% loan within the standard 30 years, then what are the per-month payments for the $1,000,000 mortgage? Consider both an effective 6.5% interest rate per year, and a bank quote of 6.5% (APR) per year.

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