You and your spouse have picked out a home to purchase. The contract price is $360,000 and

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Question:

You and your spouse have picked out a home to purchase. The contract price is $360,000 and you are planning to put 20% down on the home. Your mortgage broker has secured your 30-year loan with an APR of 4.25% that must be paid back monthly.

What is your monthly mortgage payment (purely on the loan)?