Question: 3 Please use the following information for Questions 3 - 6. After graduating with your degree, you have decided that it is time to buy

3 Please use the following information for Questions 3 - 6.

3 Please use the following information for Questions 3 - 6. After graduating with your degree, you have decided that it is time to buy your first home. The condo you want costs $400,000 and you have $50,000 for a down payment. The bank will lend you $350,000 at a rate of 6%, compounded semi-annually, and amortized over 25 years. How much is your monthly payment? & 02:31:08 Multiple Choice $2,239.32 $1,878.25 O $2,274.35

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