You are purchasing a new house at 500000 in cincinnatiyoure, Financial Management

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You are purchasing a new house at 500000 in cincinnatiyoure

You are purchasing a new house at $500,000 in Cincinnati.You're making the purchase with an initial deposit of $200,000 and the rest with a 30-year fixed rate mortgage with an interest rate of 3.5% per year with payments made monthly. Excluding all fees, what is your monthly mortgage payment?

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Financial Management: You are purchasing a new house at 500000 in cincinnatiyoure

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