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Question
You obtain a $265,000, 15-year fixed-rate mortgage. The annual interest rate is 6.25%. In addition to the principle and interest paid, you must pay $275 a month into an escrow account for insurance and taxes. What is the total monthly payment (to the nearest dollar)?
A. $2,272
B. $1,632
C. $2,547
D. $1,907
E. $2,311
Answer
This answer is hidden. It contains 51 characters.
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