Real Estate Math
A Connecticut buyer takes out a $350,000 mortgage at 6.5% for 30 years. Using a payment factor of $6.32 per $1,000, the monthly P&I payment is approximately:
A$2,112
B$2,212✓ Correct
C$2,312
D$2,412
Explanation
Monthly P&I = ($350,000 ÷ $1,000) × $6.32 = 350 × $6.
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