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On December 1 , the home mortgage balance was $ 3 1 9 , 0 0 0 for the home owned by Kim Parker. The
On December the home mortgage balance was $ for the home owned by Kim Parker. The interest rate for the loan is percent.
Assuming that Kim makes the December monthly mortgage payment of $ calculate the following:
a The amount of interest included in the December payment round your answer to the nearest cent
b The amount of the monthly mortgage payment that will be used to reduce the principal balance.
c The new balance after Kim makes this monthly mortgage payment.
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