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14. Bill is purchasing his first home and has been offered a 30-year mortgage with a rate of 4.65%. After a sizeable down payment, he

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14. Bill is purchasing his first home and has been offered a 30-year mortgage with a rate of 4.65%. After a sizeable down payment, he will end up borrowing $220,000. How much of Bill's first monthly payment will be applied to interest? a. $235.67 b. $615.40 c. $1,134.40 d. $10,230.00 e. None of the above

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