Find the monthly payment


Problem

Mr. and Mrs. Zagorin plan to buy a small, unfinished one-room for $90,000, paying 20% down and financing the balance at 5 1/2%, for 30 years. The taxes are $960 per year, with fire insurance costing $352 per year. Find the monthly payment (including taxes and insurance).

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Financial Accounting: Find the monthly payment
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