Abbey purchased a house using a fixed rate mortgage. The annual interest rate is 4.2% compounded monthly for 20 years. The mortgage amount is $235,000. What is the monthly payment on the mortgage?
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Home » Mathematics » Abbey purchased a house using a fixed rate mortgage. The annual interest rate is 4.2% compounded monthly for 20 years. The mortgage amount is $235,000. What is the monthly payment on the mortgage?