Question: A borrower takes out a 30-year fully amortizing CPM loan for $250,000 with an interest rate of 5%. What would the monthly payment be? a.

A borrower takes out a 30-year fully amortizing CPM loan for $250,000 with an interest rate of 5%. What would the monthly payment be?

a. $1,042

b. $1,342

c. $694

d. $1,355

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