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You Are Considering Purchasing a New Home

Question 11

Multiple Choice

You are considering purchasing a new home. You will need to borrow $290,000 to purchase the home. A mortgage company offers you a 20-year fixed rate mortgage (240 months) at You are considering purchasing a new home. You will need to borrow $290,000 to purchase the home. A mortgage company offers you a 20-year fixed rate mortgage (240 months) at (1% month) . If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to ________. A) $2554 B) $4470 C) $3193 D) $5109 (1% month) . If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to ________.


A) $2554
B) $4470
C) $3193
D) $5109

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