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  • 22-02-2024
  • Business
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Consider the first payment against a $200,000 mortgage that lasts for 25 years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below. What is the amount of the payment?
a) $1,265.79
b) $1,317.73
c) $1,389.35
d) $1,458.54

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