Real Estate Math
A loan of $300,000 at 7% annual interest. What is the first month's interest payment?
A$1,750✓ Correct
B$2,100
C$1,500
D$2,400
Explanation
Monthly interest = $300,000 × (0.07 ÷ 12) = $300,000 × 0.005833 = $1,750.
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