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Jack bought a house for $400,000 and he paid a down payment of$50,000 in cash and financed

Jack bought a house for $400,000 and he paid a down payment of$50,000 in cash and financed

Jack bought a house for $400,000 and he paid a down payment of$50,000 in cash and financed the balance. The loan terms requiremonthly payments for 15 years at a nominal interest rate of 5.75%compounded monthly. What is his monthly mortgage payment?

a) $2,805.88 b) $2,939.22 c) $2,674.44 d) $3,007.33 e)$2,906.44

Abhinav 04-Dec-2019

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