Real Estate Math
A buyer finances $340,000 at 7% for 30 years. The monthly payment (P&I) using the factor of $6.65 per $1,000 financed is approximately:
A$2,161
B$2,261✓ Correct
C$2,361
D$2,461
Explanation
Monthly payment = ($340,000 / $1,000) x $6.65 = 340 x $6.
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