Multiple Choice
Suppose a potential home buyer is interested in taking a $500,000 mortgage loan that has a term of 30 years and a fixed mortgage rate of 5.25%. What is the monthly mortgage payment that the homeowner would need to make if this loan is fully amortizing?
A) $552.50
B) $2,761.02
C) $17,820.72
D) $33,458.47
Correct Answer:
Verified
Correct Answer:
Verified
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