Real Estate Math
A Washington duplex is purchased for $570,000 with 20% down. The annual interest rate is 6.75%. Monthly interest-only payment is:
A$2,566.50✓ Correct
B$2,756.25
C$3,207.19
D$3,563.75
Explanation
Loan = $570,000 × 80% = $456,000. Annual interest = $456,000 × 6.
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