Ou purchase a $255,000 house and you pay 20 percent down. You obtain a fixed-rate mortgage where the annual interest rate is 5.85 percent and there are 360 monthly payments. What is the monthly payment?
A. $1,215.27
B. $1,203.48
C. $1,194.45
D. $1,367.22
E. $1,504.35
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