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You have just taken out a 13 -year, $ 267 ,000 mortgage loan at an annual...

You have just taken out a 13 -year, $ 267 ,000 mortgage loan at an annual interest rate of 7.5 percent. The mortgage has monthly payments. What is the amount of each payment? Calculate your answer to the nearest $.01. Enter your answer as a postive number. Do not use the $ or , sign.

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Monthly mortgage payment Here, 1 Interest rate per annum 2 Number of vears 3Number of compoundings per per annum 13 12 0.63%) 156 1+3 Interest rate per period (r) 2x3 Number of periods (n) Loan amount (P) 267,000 Monthly mortgage payment$ 2,684.34 | (267000x0.63%x(1+0.63%) ^ 156)-((1+0.63%) A 156-1)|

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