Bobby bought a house for $275,000, by putting 15% down and borrowing the rest. His note is

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Bobby bought a house for $275,000, by putting 15% down and borrowing the rest.

His note is for 30 years at 7.5% interest. If his first payment is due August Ist of the current year, how much principal did he pay in the current year?

a. $878.29:

b. $925.14.

c. $985.43.

d. $1,612.28.

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Fundamentals Of Financial Planning

ISBN: 9781936602094

3rd Edition

Authors: Michael A Dalton, Joseph Gillice

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Question Posted: Sep 11, 2024 09:01 AM

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Bobby bought a house for $275,000, by putting 15% down and borrowing the rest. His note is

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Fundamentals Of Financial Planning

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