You have just borrowed $565,000 at 3% for 30 years on a fixed-rate mortgage. How much of the payment in month 180 is payment of interest? Provide the answer only.

You have just borrowed $565,000 at 3% for 30 years on a fixed-rate mortgage. How much of the payment in month 180 is payment of interest?

Learn how to calculate the interest payment in month 180 for a $565,000 fixed-rate mortgage at 3% for 30 years. This detailed explanation covers key concepts like amortization and interest calculation, providing a clear understanding of mortgage payments.

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