Mathematics, 19.04.2021 17:20 153536

Raymond signs on a $110,000 mortgage with a 5% annual interest rate for 15 years. His monthly payment is $869.87. How much interest is paid in month one? Round to the nearest cent. By how much is the balance reduced after the first payment?

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Raymond signs on a $110,000 mortgage with a 5% annual interest rate for 15 years. His monthly paymen...

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