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John Is Buying a Home with a $120,000 Mortgage Using

Question 91

Multiple Choice

John is buying a home with a $120,000 mortgage using a 6.5 percent,15-year loan.If the payment per $1,000 debt under these terms is $8.7111,how much is the monthly payment?


A) $667
B) $1,045
C) $2,010
D) $791

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