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If a Monthly Principal and Interest Payment for a 30-Year

Question 6

Multiple Choice

If a monthly principal and interest payment for a 30-year, 12% loan of $1,000 would be $10.29 what would the monthly payment be for a home purchased at $75,500 with an 80% loan on those terms?


A) $10.29
B) $621.52
C) $755.90
D) $776.90

Correct Answer:

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