Real Estate Math
A Kansas buyer obtains a $180,000 mortgage at 7.5% annual interest. What is the monthly interest charge for the first month?
A$1,125.00✓ Correct
B$1,200.00
C$1,350.00
D$1,500.00
Explanation
Monthly interest = $180,000 × (0.075 ÷ 12) = $180,000 × 0.
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