Horace and Myrtle want to buy a house. Their banker offered them a fully amortizing $95,000 loan at a 12% annual rate for 20 years. What will their monthly payment be if they make equal monthly installments over the next 20 years?
A) $1,046
B) $749
C) $1,722
D) $1,346
Answer: A
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Answer the following statement true (T) or false (F)
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