How much should he expect to pay in prepaid interest

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Reference no: EM132818227

Problem - Del is buying a $250,000 home. He has been approved for a 3.75% mortgage. He was required to make a 15% down payment and will be closing on the house on July 15. His first mortgage payment is due on August 1. How much should he expect to pay in prepaid interest at the closing?

Reference no: EM132818227

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