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Arithmetic
Question

1. Determine the monthly payment for a five-year f...

1. Determine the monthly payment for a five-year fixed rate mortgage of \( \$ 260000 \) amortized over \( 25 \) years at an annual interest rate of \( 6.49 \% \) . 

a. \( \$ 922.92 \)       c. \( \$ 1723.93 \) 

b. \( \$ 1739.97 \)    d. \( \$ 1753.92\) 

Answer

b

Solution
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