Real Estate Math
A $250,000 loan at 6% for 30 years has a monthly payment factor of $5.99 per $1,000. What is the monthly payment?
A$1,250.00
B$1,497.50✓ Correct
C$1,500.00
D$2,000.00
Explanation
$250,000 / $1,000 × $5.99 = 250 × $5.
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