Multiple Choice
You decide to borrow $250,000 to build a new home.The bank charges an interest rate of 8% compounded monthly.If you pay back the loan over 30 years,what will your monthly payments be (rounded to the nearest dollar) ?
A) $1,123
B) $1,237
C) $1,687
D) $1,834
Correct Answer:
Verified
Correct Answer:
Verified
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