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Consider a $225,000, 6 percent, 30-year, constant amortization mortgage (CAM) with monthly payments. What is the total payment that will be due on this mortgage
- Consider a $225,000, 6 percent, 30-year, constant amortization mortgage (CAM) with monthly payments.
- What is the total payment that will be due on this mortgage in the first month? How much of this payment will be attributable to principal? How much to interest?
- How large will the payment on this mortgage be in the 30th month? How much of this will be attributable to principal? How much to interest?
- What will be the principal balance outstanding on this mortgage at the end of the sixth year?
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Public Finance
Authors: Richard W. Tresch
2nd Edition
0126990514, 978-0126990515
