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On November 1 , the home mortgage balance was $ 2 7 0 , 0 0 0 for the home owned by Scott Morris. The
On November the home mortgage balance was $ for the home owned by Scott Morris. The interest rate for the loan is percent.
Assuming that Scott makes the November monthly mortgage payment of $ calculate the following:
a The amount of interest included in the November 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 Scott makes this monthly mortgage payment.
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