Question: Consider the first payment against a $ 2 0 0 , 0 0 0 mortgage that last for 2 5 years. Fixed repayments are made

Consider the first payment against a
$
200
,
000
mortgage that last for
25
years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below.
Payment # Payment Interest Debt Payment Balance
1
d
716.67
p
1
b
1
2
...
...
...
...
Calculate
d
, the fixed monthly payments that are made.
Round your answer to the nearest cent.

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