A couple has just purchased a home for $371,600. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker has gotten...

A couple has just purchased a home for $371,600.00. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker has gotten them a mortgage rate of 5.64% APR with monthly compounding. The mortgage has a term of 30 years.

How much interest is paid in the first year?