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Suppose you are buying your first home for $145,000, and you have $15,000 for your...

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Finance

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?

a.

$741.57

b.

$780.60

c.

$821.69

d.

$862.77

e.

$905.91

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