You purchase a house for $241,000. The bank requires a down payment of 15% of...
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You purchase a house for $241,000. The bank requires a down payment of 15% of the purchase price and loans you the remainder to be repaid in monthly installments over the next 30 years. The first payment occurs one month from today. If the annualized interest rate for the loan is 5.7%, what is your monthly payment? Enter your answer as a positive number, and round to the nearest dollar
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