Question: A couple borrows 250000.00 for a mortgage that requires fixed monthly payments over 25 consecutive years. The first monthly payment is due in one month.

A couple borrows 250000.00 for a mortgage that requires fixed monthly payments over 25 consecutive years. The first monthly payment is due in one month. If the interest rate on the mortgage is 5.00%, which of the following comes closest to the monthly payment? $875.00 $1461.48 $833.33 $1478.18 $1451.82

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