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QUESTION

You have just taken out a 23 -year, $ 324 ,000 mortgage loan at an annual interest rate of 7.6 percent. The mortgage has monthly payments. What is

You have just taken out a 23 -year, $ 324 ,000 mortgage loan at an annual interest rate of 7.6 percent. The mortgage has monthly payments. What is the amount of each payment? Calculate your answer to the nearest $.01. Enter your answer as a postive number. Do not use the $ or , sign.

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