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5.) The Jackson family buys a house for $295,000 with a down payment of $57,000. The...

5.) The Jackson family buys a house for $295,000 with a down payment of $57,000. The family takes out a 30 year amortized mortgage on the remaining cost of the home at an annual interest rate of 3.85%. Payments (principal plus interest) of equal amount are paid monthly. Find the amount of the monthly payment needed to amortize this loan.

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