How much interest would you pay the second month

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Reference no: EM131300432

Suppose you bought a condo and took out a 30-year, $100,000 amortized loan at a nominal rate of 8% with end-of-month payments. How much interest would you pay the 2nd month? a. $652.90 b. $614.50 c. $666.22 d. $639.84 e. $627.04

Reference no: EM131300432

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