Real Estate Math
A buyer in NC makes a 20% down payment on a $510,000 home. They finance the balance at 6.5% annually. The first month's interest payment is:
A$2,210✓ Correct
B$2,380
C$2,754
D$2,142
Explanation
Loan = $510,000 x 0.80 = $408,000.
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