Sara and Steven purchased a $300,000 house. They made an initial 10% down payment and...
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Sara and Steven purchased a $300,000 house. They made an initial 10% down payment and secured a mortgage with interest charged at the rate of 6% / year on the unpaid balance. Interest computations are made at the end of each month. If the loan is to be amortized over 30 years, what monthly payment will they be required to make?
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