Finance
A Washington buyer's 30-year loan is $390,000 at 6.5%. The monthly P&I payment factor for $1,000 at 6.5% is $6.32. After the first month, the balance is approximately:
A$389,880
B$389,932
C$389,883✓ Correct
D$390,000
Explanation
Monthly payment = ($390,000 ÷ $1,000) × $6.32 = 390 × $6.
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