Question: You put 2 0 % down on a home with a purchase price of $ 5 0 0 , 0 0 0 . The down

You put 20% down on a home with a purchase price of $500,000. The down payment is thus $100,000, leaving a balance owed of $400,000. A bank will loan you this remaining balance ($400,000) at 6.90% APR. You will make monthly end-of-the-period payments with a 30-year payment schedule. What is the monthly payment under this schedule?
$2,634.4
$2,465.5
$2,575.3
$2,345.25
$2,270.5
You put 2 0 % down on a home with a purchase

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