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You Have Contracted to Buy a House for $250,000,paying $30,000

Question 82

Multiple Choice

You have contracted to buy a house for $250,000,paying $30,000 down and taking out a fully amortizing loan for the balance,at a 5.7% annual rate for 30 years.What will your monthly payment be if they make equal monthly installments over the next 30 years (to the nearest dollar) ?


A) $1,035
B) $1,123
C) $1,189
D) $1,277

Correct Answer:

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