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(10 points) Consider a $125,000 fixed rate, 30-year mortgage with an interest rate of 4.2%. (1 point) What is the monthly payment? (1 point) What
- (10 points) Consider a $125,000 fixed rate, 30-year mortgage with an interest rate of 4.2%.
- (1 point) What is the monthly payment?
- (1 point) What is the loan balance after 3 years?
- (2 points) At the end of 3 year, how much of the monthly mortgage payment are paid to interest?
- (2 points) At the end of 3 year, how much of the monthly mortgage payments are paid to principal?
- (2 points) At the end of 10 years, how much of the monthly mortgage payments are paid to interest?
- (2 points) At the end of 10 years, how much of the monthly mortgage payments are paid to principal?
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