Real Estate Math
A Missouri borrower has a $250,000 mortgage at 5.25%. What is the first month's interest?
A$1,093.75✓ Correct
B$875.00
C$1,312.50
D$1,041.67
Explanation
Monthly interest = $250,000 × 5.25% ÷ 12 = $250,000 × 0.
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