Suppose you are buying your first condo for $160,000, and you will make a $15,000...
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Suppose you are buying your first condo for $160,000, 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. $769.86 b. $925.66 c. $971.49 d. $962.32 e. $916.50
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