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You Have Taken Out a Mortgage for a New Home $250,000\$ 250,000

Question 13

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You have taken out a mortgage for a new home in the amount of $250,000\$ 250,000 . You have agreed to repay the mortgage in 15 years. What is your monthly payment if you agree to pay an interest
rate of 6.5%6.5 \% compounded monthly? $\$‾\underline{\quad\quad}

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