You decide to borrow 250000 to build a new home the bank, Financial Management

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You decide to borrow 250000 to build a new home the bank

You decide to borrow $250,000 to build a new home. The bank charges an interest rate of 4% compounded monthly. If you pay back the loan over 30 years, what will your monthly payments be (rounded to the nearest dollar)? A. $1,194 B. $1,342 C. $1,499 D. $1,687

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Financial Management: You decide to borrow 250000 to build a new home the bank

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Financial Management: You decide to borrow 250000 to build a new home the bank

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