What is the monthly payment under the schedule, Financial Management

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What is the monthly payment under the schedule

Problem

Imagine that you just purchased a home. The purchase price is $250,000, and you put a down payment of $50,000. You will borrow the reminder $200,000. Your local bank offers you a mortgage loan with an APR equal to 3.61%. Payments are due at the end of every month, and the loan maturity is 30 years. What is the monthly payment under this schedule?

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Financial Management: What is the monthly payment under the schedule

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