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A Lakefront Cottage Is Selling for $200,000, with a $125,000

Question 14

Multiple Choice

A lakefront cottage is selling for $200,000, with a $125,000 down payment, and the remainder mortgaged at 12% APR, to be amortized over 30 years.What is the monthly mortgage payment?


A) $771.46
B) $792.90
C) $931.77
D) $1,906.11

Correct Answer:

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