Posted by **Rodney** on Monday, October 15, 2012 at 4:29pm.

if the interest rate on a home mortgage is 9%, then each month you pay 0.75% of the unpaid balance in interest. if the unpaid balance on one such loan is $60,000 at the beginning of a month, how much interest must be paid that month?

- Math -
**Steve**, Monday, October 15, 2012 at 4:55pm
.0075*60000 = 450

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