A young couple buys their dream house.After paying their down payment and closing costs,the couple has borrowed $400,000 from the bank.The terms of the mortgage are 30 years of monthly payments at an APR of 6% with monthly compounding.What is the monthly payment for the couple?
A) $2,398.20
B) $2,421.63
C) $2,697.98
D) $2,700.00
Correct Answer:
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