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Suppose the Bank of Montreal is offering a 30-year mortgage with an EAR of 5.625%....

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Suppose the Bank of Montreal is offering a 30-year mortgage with an EAR of 5.625%. If you plan to borrow $240,000, what will your monthly payment be? (Note: Be careful not to round any intermediate steps less than six decimal places Your monthly payment will be $ (Round to the nearest cent.)

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