Real Estate Math
A $375,000 mortgage at 6% for 30 years has a monthly payment factor of $5.996 per $1,000. What is the monthly payment?
A$2,248.50✓ Correct
B$1,875.00
C$2,500.00
D$1,998.00
Explanation
Monthly payment = ($375,000 ÷ $1,000) × $5.996 = 375 × $5.
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