Question: You would like to borrow $ 5 0 0 , 0 0 0 to buy a home. The bank offers you a 3 0 year

You would like to borrow $500,000 to buy a home. The bank offers you a 30 year fully amortizing fixed rate mortgage with a 8% contract interest rate. What will your monthly payments be?(Round answer to 2 decimal places, express all payments as positive numbers).

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