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What is the amount of interest to be paid in the first month of a 15-year, 7%, $200,000 conventional fixed-rate mortgage? A. $1,798 B. $1,167

What is the amount of interest to be paid in the first month of a 15-year, 7%, $200,000 conventional fixed-rate mortgage?

A. $1,798
B. $1,167
C. $1,111
D. $631
E. $500

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