Problemyou decide to borrow 350000 to build a new home the, Ask an Expert

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Problem:

You decide to borrow $350000 to build a new home. The bank charges an interest rate of 6% compounded monthly. If you pay back the loan over 30 years,

Required:

Question: What will your monthly payments be (rounded to the nearest dollar)?

Note: Show all workings.

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Category:- Basic Finance
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