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you have just taken out a 30 year, $120,000 mortgage on your new home. this mortggage is to be repaid in 360 equal monthly installments.
you have just taken out a 30 year, $120,000 mortgage on your new home. this mortggage is to be repaid in 360 equal monthly installments. if the stated (nominal) annual interest rate is 13.95 %, what is the amount of the INTEREST PORTION od the FIRST monthly installment?
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