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assume you obtain a mortgage for $320,000, the term of the loan is for 30 years, it has an annual rate of 9.800%, and you

assume you obtain a mortgage for $320,000, the term of the loan is for 30 years, it has an annual rate of 9.800%, and you make payments every month.

a. what is the first months payment?

b. what is the first months interesr?

c. what is the first months principal?

d. what is the balance ar the end of the first month

e. what is the total interest paid over the life of the loan?

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