Question: You plan to take out a $ 2 5 0 , 0 0 0 fixed - rate home mortgage. It is a 3 0 -

You plan to take out a $250,000 fixed-rate home mortgage. It is a 30-year loan requiring monthly loan payments of equal amount. The interest rate on the mortgage is 6.26%. What will be your monthly mortgage payment?
A.
$1,540.92
B.
$694.44
C.
$1,294.05
D.
$991.62
E.
$2,048.55
A.
1.78 percent
B.
4.48 percent
C.
3.76 percent
D.
7.08 percent
E.
8.73 percent

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