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This morning, you borrowed $150,000 to buy a house. 

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This morning, you borrowed $150,000 to buy a house.

“This morning, you borrowed $150,000 to buy a house. The mortgage rate is 7.35 percent. The loan is to be repaid in equal monthly payments over 20 years. The first payment is due one month from today. How much is the equal monthly payment? (Assume that each month is equal to 1/12 of a year.” $1,166.52 $1,033.46 $1,102.51 $925.83 $1,194.67 please show all work via a financial calculator preferably TI BA II plus

 

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This morning, you borrowed $150,000 to buy a house.

Perfect This morning, you borrowed $150,000 to buy a house. 

This morning, you borrowed $150,000 to buy a house. 

 

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