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Consider a mortgage with an outstanding balance of 125000

Consider a mortgage with an outstanding balance of $125,000 and a required monthly payment of $893.60. If interest accrues at an annual rate of 3.5 percent, how much of the next month's payment will be attributable to interest?

$529.02
$312.76
$4,375.00
$364.58

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Business Management: Consider a mortgage with an outstanding balance of 125000

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