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Posted on Sep 03, 2024

A 1 9 - year loan for $ 1 , 5 0 0 , 0 0 0 is to be amortized by equal monthly payments.

19 -

year loan for $

1, 500, 000

is to be amortized by equal monthly payments. If the APR is at

6.88 %,

find the amount of the interest in the first payment.

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