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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%. a $350 b

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%. a $350 b $169.13 c $519.13 d $4,200

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