Real Estate Math
A 30-year amortizing loan for $310,000 at 6.75% has a monthly principal and interest payment of approximately $2,010. After the first payment, the remaining balance is approximately:
A$309,736✓ Correct
B$309,990
C$308,000
D$307,580
Explanation
First month interest = $310,000 × 6.75% ÷ 12 = $310,000 × 0.
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