Question: You are looking at purchasing a house which has a value of $650,000 and property tax of $12,000 p.a. What would be the monthly mortgage

You are looking at purchasing a house which has a value of $650,000 and property tax of $12,000 p.a. What would be the monthly mortgage payment if you borrowed $400,000 at 3.25% for 20 years amortisation? Use this mortgage payment factors table: Term Rate 15 Years 25 Years 20 Years 2.50% 6.66 4.48 5.29 2.75% 4.61 5.41 6.78 3.00% 4.73 5.54 6.90 3.25% 4.86 5.66 702 3.50% 4.99 5.79 7.14 3.75% 5.13 5.91 7.26 O a $2,264 b. $1,950 c. $2,305 d. $3,560 e $2,142

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