Question: Continue from question 4 . ( Included Below ) After 1 0 years ( 1 2 0 payments ) Jerry sold the house and paid

Continue from question 4.(Included Below) After 10 years (120 payments) Jerry sold the house and paid off the loans remaining balance. What must he have paid (in addition to his regular 120th monthly payment) to pay off the loan? Choose the closest answer.
Jerry bought a house for $400,000 and made an $80,000 down payment. He obtained a 30-year loan for the remaining amount. Payments were made monthly. The nominal annual interest rate was 6% compounded monthly. What was his monthly loan payment? Choose the closest answer.

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