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A family borrowed $64,000 to buy a house. The loan was at 7.2% and for 20 years. The monthly payments were $503.90 (a) How much
A family borrowed $64,000 to buy a house. The loan was at 7.2% and for 20 years. The monthly payments were $503.90 (a) How much of the first month's payment was interest, and how much was principal? interest $ principal (b) What was the total amount paid over the 20 years? [-/9.1 Points] ROLFFM8 5.4.057. For a 30-year house mortgage of $200,000 at 4.5% interest, find the following. (Round your final answers to two decimal pla (a) the amount of the first monthly payment that goes to repay principal (b) the amount of the 121 st month's payment (after 10 years) that goes toward payment of principal
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