Home Loan Problems Set 2 Question 2
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Question 2
Cortez is buying a $560000 one bedroom flat. He has decided to go with a loan from the Bank of America Oregon. Cortez has saved up enough money to put down a 11 % deposit. The length of the mortgage is 20 years, and his interest rate is fixed at 8.0 %.
[an error occurred while processing this directive]Calculate how much his total monthly payment is going to be.