Question: Emilio obtains a $ 1 7 5 , 0 0 0 reverse mortgage with monthly payments over 1 0 years. If the interest rate of

Emilio obtains a $175,000 reverse mortgage with monthly payments over 10 years. If the interest rate of the mortgage loan is 8% percent, what is the monthly payment received by Emilio?
Multiple Choice
$1,820
$1,458
$863
$957

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