Real Estate Math
A buyer in Wisconsin obtains a $200,000 mortgage at 5% interest. What is the first month's interest payment?
A$667
B$750
C$10000✓ Correct
D$1,000
Explanation
Monthly interest = $200,000 × 5% / 12 = $10,000 / 12 ≈ $833. To solve this, multiply the relevant values: $200,000 at 5%..
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