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Your single family home has monthly rent of $2,400. It was purchased for 100 times that monthly rent. A mortgage was used to cover half
Your single family home has monthly rent of $2,400. It was purchased for 100 times that monthly rent. A mortgage was used to cover half the purchase price, at 3% per year, with monthly payments over 30 years. How much will be paid in dollars in interest during the third year of this mortgage? Group of answer choices
a. 3,490
b. 2,582
c. 3,411
d. 2,793
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