Question: Consider the first payment against a $ 200 , 000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The

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 b 1 , the balance on the loan after the first month, given a rate of 4.3 % . Round your answer to the nearest dollar. Do NOT round until you calculate the final

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