You have contracted to buy a house for $250,000, paying $30,000 down and taking out fully amortizing

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You have contracted to buy a house for $250,000, paying $30,000 down and taking out fully amortizing loan for the balance, at a 5.7% annual rate for 30 years.
 What will your monthly payment be if they make equal monthly installments over the next 30 years (to the nearest dollar)?
 A) $1,189
 B) $1,123
 C) $1,035
 D) $1,277

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Fundamentals of Financial Management

ISBN: 978-0324664553

Concise 6th Edition

Authors: Eugene F. Brigham, Joel F. Houston

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