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OpenStudy (anonymous):
Sonika has a 6.4% fixed rate 40-year mortgage in the amount of $425,000. The total cost of principal and interest is about $1,179,830. Which of the following is closest to Sonika’s monthly payment? $1,063 $2,458 $2,950 $885
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OpenStudy (anonymous):
$2458 is the monthly payment, assuming a 40-year mortgage with an annual rate of 6.4%.
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