Real Estate Math
A buyer's loan amount is $360,000 at 6.5% annual interest. What is the interest owed in the first month?
A$1,800
B$360,000✓ Correct
C$2,340
D$1,625
Explanation
Monthly interest = $360,000 × (0.065 ÷ 12) = $360,000 × 0.
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