Question: You pay 20% down on a home with a purchase price of $300,000. Your bank will loan the remaining balance of $240,000 at 8% APR

You pay 20% down on a home with a purchase price of $300,000. Your bank will loan the remaining balance of $240,000 at 8% APR with a 30-year maturity. You will make monthly payments on the loan. What is the monthly annuity payment?

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