Real Estate Math
A Florida investor borrows $240,000 at 6.5% annual interest on an interest-only loan. What is the monthly interest payment?
A$1,300✓ Correct
B$1,400
C$1,250
D$1,560
Explanation
Monthly interest = $240,000 × 6.5% ÷ 12 = $240,000 × 0.
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