Question: A borrower takes out a 20 year, fixed rate, fully amortizing, loan of $300,000. The loan has a 6.50% nominal interest rate of and requires

A borrower takes out a 20 year, fixed rate, fully amortizing, loan of $300,000. The loan has a 6.50% nominal interest rate of and requires equal monthly payments of principal and interest. How much of the 36th month's payment will be applied just to interest? Express your final answer in dollars and round to the nearest penny.

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