Real Estate Math
A Maine homeowner takes out a 30-year, $240,000 mortgage at 6%. Using a monthly factor of $6.00 per $1,000, the monthly P&I payment is:
A$1,200
B$1,320
C$1,440✓ Correct
D$1,560
Explanation
$240,000 ÷ $1,000 = 240. 240 × $6.
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