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Suppose you are buying your first condo for $400,000, and you will make a $120,000 down payment. You have arranged to finance the remainder with
Suppose you are buying your first condo for $400,000, and you will make a $120,000 down payment. You have arranged to finance the remainder with a 30- year, monthly payment, amortized mortgage at a 6% nominal interest rate, with the first payment due in one month. How much is the interest payment for the first month? O $1,800.00 O $1,635.74 O $1,200.35 O $1,400.00
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