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26 March, 01:51

What is the monthly payment on a $770,000 mortgage? assume a standard 30-year, 5.5% mortgage with monthly payments?

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  1. 26 March, 04:14
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    0.055 (interest) * 770,000 (mortgage) = interest rate of:

    $42,350

    $770,000 (mortgage) + $42,350 (interest rate) = mortgage of:

    $812,350.

    30yrs*12months=

    360months in 30years.

    $812,350mortgage/360months=

    $2,256.5277777 ... or round up to $2,256.53 monthly payments over the next 30yrs.
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