Finance
A Connecticut borrower takes a 30-year fixed mortgage at 7% on a $350,000 loan. Their monthly payment (principal and interest) is approximately:
A$1,750
B$2,100
C$2,329✓ Correct
D$2,800
Explanation
Using the standard mortgage payment formula for $350,000 at 7% for 30 years: Monthly P&I ≈ $2,329. (Monthly rate = 7%/12 = 0.
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