Assume you just bought a new home and now have a mortgage on the home.The amount of the principal is $200,000,the loan is at 4.75% APR,and the monthly payments are spread out over 25 years.What is the loan payment? Use a calculator to determine your answer.
A) $1,225.36
B) $1,206.58
C) $1,157.63
D) $1,140.23
Correct Answer:
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