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A shopping center investor bought a 36,000 square foot shopping center in Calabasas, California with a 25-year fully amortizing fixed rate mortgage loan at a stated annual interest rate of 5.5%, a loan to value ratio of 80%, and a down payment of $600,000. What was the monthly payment on the loan

a.$14,738.10

b.$18,422.62

c.$11,790.48

d.$3,684.52

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