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given the following information on an interest only mortgage, calculate the monthly mortgage payment: loan amount 120,000 term 15 yrs interest rate 6.25% A. 1371.88

given the following information on an interest only mortgage, calculate the monthly mortgage payment: loan amount 120,000
term 15 yrs
interest rate 6.25%
A. 1371.88
B. 625
C. 825
D. 6,250

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