A couple has just purchased a home for $332,800.00. They will pay 20% down in cash, and finance the remaining balance. T

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answerhappygod
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A couple has just purchased a home for $332,800.00. They will pay 20% down in cash, and finance the remaining balance. T

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A couple has just purchased a home for $332,800.00. They willpay 20% down in cash, and finance the remaining balance. Themortgage broker has gotten them a mortgage rate of 3.12% APR withmonthly compounding. The mortgage has a term of 30 years.
How much interest is paid in the first year?
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