Question
A couple has decided to purchase a $360000 house using a down payment of $26000. They can amortize the balance at 6% over 30 years.
A couple has decided to purchase a $360000 house using a down payment of $26000. They can amortize the balance at 6% over 30 years.
a) What is their monthly payment?
b) What is the total interest paid?
c) How much of their first payment went toward paying interest?
d) How much of their first payment went toward paying the balance of the loan
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Personal Finance Turning Money Into Wealth
Authors: Arthur Keown
8th Edition
0134730364, 978-0134730363
