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URGENT DUE LESS THAN AN HOUR You are considering purchasing a new home. You...

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Finance

URGENT DUE LESS THAN AN HOUR

You are considering purchasing a new home. You will need to borrow $280,000 to purchase the home. A mortgage company offers you a 20-year fixed rate mortgage (240 months) at 9% APR (0.75% month). If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to:

A.$2,519

B. $3,527

C.$4,030

D. $2,015

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