Help? Please and thank youu.[: Sofia has a 5.2% fixed rate 30-year mortgage in the amount of $350,000. The total cost of principal and interest is about $691,880. Which of the following is closest to Sofia’s monthly payment?

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There are 12 months in a year, so there are 12*30 = 360 months in 30 years So Sofia is making 360 equal payments (maybe the last payment will be slightly smaller than the rest)

so if she pays a total of $691,880 (ignoring the down payment), then we can say monthly payment = (Total Cost)/(Number of Payments)

tell me what you get for the monthly payment

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