Robyn is getting a mortgage for a house and will borrow $700,000. For this mortgage, the amortized loan requires annual

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answerhappygod
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Robyn is getting a mortgage for a house and will borrow $700,000. For this mortgage, the amortized loan requires annual

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Robyn is getting a mortgage for a house and will borrow
$700,000. For this mortgage, the amortized loan requires
annual payments for 6 years at a 6.0% annual interest rate.
How much of the first payment (to the nearest cent) is the interest
owed for the first year of the loan?
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