Suppose you want to borrow $200,000 from the bank to buy a

Last updated: 7/8/2022

Suppose you want to borrow $200,000 from the bank to buy a home and agree to repay the loan in 360 equal monthly payments, including all interest due. The bank charges 0.35% per month on the unpaid balance (4.2% per year compounded monthly). Answer the following questions about this loan. How much is the monthly payment? $ Round to the nearest cent.