Question: A fully amortizing loan is made for $ 4 5 0 , 0 0 0 over 1 5 years at 9 % . What is

A fully amortizing loan is made for $450,000 over 15 years at 9%. What is the
payment on the loan? How much do you pay in interest during the first month? How
much do you pay in principal during the first month?

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