You borrow 300,000 to buy a new house. The loan is a conventional 30-year loans and payment is made at the end of each month (so will you make more than just 30 payments, right!) What should be the monthly interest rate so that payment is $2,948.01? show all work

 

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To determine the monthly interest rate that would result in a monthly payment of 294801 for a conven... View the full answer