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Sonia has a 5.8% fixed rate 20-year mortgage in the amount of $275,000. The total cost of principal and interest is about $465,262. Which of the following is closest to Sonia's monthly payment?
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Sonia has a 5.8% fixed rate 20-year mortgage in the amount of $275,000. The total cost of principal and interest is about $465,262. Which of the following is closest to Sonia's monthly payment?

User Al Berger
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9.3k points

1 Answer

3 votes
$465,262 / 240 (12 x 20) = 1983.5 = $1,939


User Aashtonk
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8.1k points
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