The hospital took out a 2 million mortgage to facilitate, Financial Management

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The hospital took out a 2 million mortgage to facilitate

The hospital took out a $2 million mortgage to facilitate the construction of a new sports performance center. The term of the mortgage is 30 years, the annual interest rate is 6.75%, and payment is due on the first day of each month. What is the hospital’s monthly mortgage payment?

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Financial Management: The hospital took out a 2 million mortgage to facilitate

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