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On March 1 , the home mortgage balance was $ 2 3 9 , 0 0 0 for the home owned by Tom Carter. The
On March the home mortgage balance was $ for the home owned by Tom Carter. The interest rate for the loan is percent. Assuming that Tom makes the March monthly mortgage payment of $ calculate the following:
a The amount of interest included in the March 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 Tom makes this monthly mortgage payment.
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