Real Estate Math
If a $420,000 loan is amortized over 30 years at a monthly payment factor of $6.65 per $1,000 borrowed, the monthly principal and interest payment is approximately:
A$2,793✓ Correct
B$2,520
C$2,000
D$3,360
Explanation
Monthly P&I = ($420,000 ÷ $1,000) × $6.65 = 420 × $6.
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