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Question 14

Multiple Choice

Solve the problem. If necessary, refer to the table below. Solve the problem. If necessary, refer to the table below. -In order to purchase a home, a family borrows $150,000 at an annual interest rate of 7.7% to be paid back over a 15-year period in equal monthly payments. What is their monthly payment? Round The answer to the nearest cent. A) $1407.62 B) $10,520.99 C) $962.50 D) $1633.00
-In order to purchase a home, a family borrows $150,000 at an annual interest rate of 7.7% to be paid back over a 15-year period in equal monthly payments. What is their monthly payment? Round
The answer to the nearest cent.


A) $1407.62
B) $10,520.99
C) $962.50
D) $1633.00

Correct Answer:

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