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A loan in the amount of $187,500 at 4.5% for 30 years closes on September 19. The first monthly payment is due on November 1. Using a 30
day month/360 day year, what is the amount of interim interest that the borrower has to pay at settlement?
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A)
$23.44
B)
$281.25
C)
$445.31
D)
$843.75
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