Question: Based on a $ 5 6 0 , 0 0 0 2 5 year loan at an interest rate of 5 . 3 5 %

Based on a $560,00025 year loan at an interest rate of 5.35% what are the interest payments in the first month
a) $892.24
b) $2,496.67
c) $3,388.91
d) Cant answer the question without knowing if the loan is fully amortizing
or partially amortizing.

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