Real Estate Math
A Vermont buyer obtains a $300,000 mortgage at 7% for 30 years. Using a factor of $6.65 per $1,000, what is the approximate monthly payment?
A$1,760
B$1,890
C$1,995✓ Correct
D$2,100
Explanation
Monthly payment = ($300,000 / $1,000) x $6.65 = 300 x $6.
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