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    Calculating the monthly mortgage payment

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    You are purchasing a home and plan to take out a 25 year mortgage loan for $300,000. The interest rate on your loan will be 10% compounded monthly. What will the monthly payments on your mortgage be?

    $2,726.10
    $227.18
    $33,050.42
    $1,672.88
    $3,085.84
    $2,754.20

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    https://brainmass.com/business/finance/calculating-monthly-mortgage-payment-434943

    Solution Preview

    Number of periods=n=25*12=300 months
    PV of loan=$300,000
    Rate ...

    Solution Summary

    The solution describes the steps to calculate the monthly mortgage payments.

    $2.19

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