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Given the following information on an interest-only mortgage, calculate the monthly mortgage payment. Loan amount: $56,000, Term: 15 years, Interest Rate: 7.5%. Please calculate step

Given the following information on an interest-only mortgage, calculate the monthly mortgagepayment. Loan amount: $56,000, Term: 15 years, Interest Rate: 7.5%.

Please calculate step by step. I don't want only answer. Thanks.

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