Suppose You Are Buying Your First House for $210,000,and Are

question 42

Multiple Choice

Suppose you are buying your first house for $210,000,and are making a $20,000 down payment.You have arranged to finance the remaining amount with a 30-year,monthly payment,amortized mortgage at a 6.5% nominal interest rate.What will your equal monthly payments be?

• A)$1,083.84
• B)$1,140.88
• C)$1,200.93
• D)$1,260.98

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