Question: #11. Hello, I need assistance with a math problem. Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Loan amount:

#11. Hello, I need assistance with a math problem.

Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage.

Loan amount: $257,750

Interest rate: 3.5%

Term: 5 years

The monthly Payment is $____

(Round to the nearest cent as needed)

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