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A settlement is held on March 22 involving the purchase of a property by assumption of the loan. The interest rate is 8.5%, and the loan balance is $198,000. How is the interest on the loan payment adjusted?

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A settlement is held on March 22 involving the purchase of a property by assumption of the loan. The interest rate is 8.5%, and the loan balance is $198,000. How is the interest on the loan payment adjusted?






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