Suppose you are buying your first home for $145,000, and you have $15,000 for your...
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Suppose you are buying your first home for $145,000, and you have $15,000 for your 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?
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| a. | $741.57 |
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| b. | $780.60 |
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| c. | $821.69 |
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| d. | $862.77 |
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| e. | $905.91 |
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