question archive Suppose you are buying your first condo for $239,000 and you will make a $48

Suppose you are buying your first condo for $239,000 and you will make a $48

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Suppose you are buying your first condo for $239,000 and you will make a $48.000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 2.75% nominal interest rate, with the first payment due in one month. What will your monthly payments be? a. $838.52 b. $1040.14 c. $517.3 d. $779.74 e. $850.48

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