Question: You plan to purchase a $260,000 house using either a 30-year mortgage obtained from your local savings bank with a rate of 7.00 percent. Bank

You plan to purchase a $260,000 house using either a 30-year mortgage obtained from your local savings bank with a rate of 7.00 percent. Bank requires a 15% down payment. In month 1, the interest portion of your payment is $__________( do not round intermediate calculations. Round your answers to 2 decimal places. e.g., 32.16)

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