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The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes loan

The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes loan are as follows:

  • Current loan outstanding: $309,000
  • Current monthly repayment: $2770
  • Next repayment: Due exactly 1 month from now
  • Interest rate on loan: i12=8.7%

Using this information, determine the following:

How much interest is Toomes charged for the coming month? Do NOT include a dollar sign in your answer.

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