Real Estate Math
A mortgage of $410,000 at 5.5% annually. The first month's interest is:
A$1,879.17✓ Correct
B$2,255.00
C$22,550
D$1,500.00
Explanation
Monthly interest = $410,000 × 5.5% ÷ 12 = $410,000 × 0.
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