A borrower wants to know the monthly mortgage payment (P&I) for a minimum down FHA loan on a $206273 home purchase with 6.0% APR and a 30 year term. What is the principle and interest payment?   round answer to nearest dollar.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
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ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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Chapter5: Making Automobile And Housing Decisions
Section: Chapter Questions
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A borrower wants to know the monthly mortgage payment (P&I) for a minimum down FHA loan on a $206273 home purchase with 6.0% APR and a 30 year term. What is the principle and interest payment?

 

round answer to nearest dollar.

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