Question: You are considering purchasing a new home. You will need to borrow$250,000 to purchase the home. A mortgage company offers you a 15minus year fixed

You are considering purchasing a new home. You will need to borrow$250,000 to purchase the home. A mortgage company offers you a 15minus

year fixed rate mortgage(180 months) at9% APR(0.75% month). If you borrow the money from this mortgagecompany, your monthly mortgage payment will be closestto:

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