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How much is the total monthly payment for mortgage

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You decide to buy a house for a total of $208,688. To get a mortgage loan, you make a 10% down payment, and the bank will lend you the rest. The interest rate quoted for this loan is 5% APR, and the loan will be paid (and interest compounded) every month, for the next 30 years. How much is the TOTAL monthly payment for this mortgage?

Reference no: EM132820056

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