Question: FV (future value) = PV (present value) = PMTvend (end payment) = I/YR (interest rate) = N (periods) = 4. Janos Patikos is buying a

FV (future value) =
PV (present value) =
PMTvend (end payment) =
I/YR (interest rate) =
N (periods) =

4. Janos Patikos is buying a new house. The purchase price of the house is $650,000 and Janos is making a down payment in cash for 15% of the purchase price and is borrowing the remainder from First Woolsley Trust. The bank is charging an APR of 6.28% and is requiring him to make monthly payments on this loan for the next 30 years, at which time the loan will be paid in full. Calculate the monthly payment on this loan.

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