Use the monthly payment table

Reference no: EM13180308

A group of investors obtained a loan of $200,000 to buy a small business. The monthly mortgage payment was based on 25 years at 8%. Find the monthly mortgage payment. Use the Monthly Payment Table. Round to the nearest cent.

a. $1,313.56
b. $1,543.64
c. $1,433.65
d. $1,444.65

Reference no: EM13180308

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