Question
Consider a 30-year, $300,000 mortgage with monthly payments and a nominal rate (monthly compounding) of 6.50%. What portion of the first 35 payments goes toward
Consider a 30-year, $300,000 mortgage with monthly payments and a nominal rate (monthly compounding) of 6.50%. What portion of the first 35 payments goes toward paying principal?
the answer is 15.70% but I don't know how to get the answer with a HP 10bII+ financial calculator, so if possible brake down the steps for me
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Business Forecasting
Authors: John E. Hanke, Dean Wichern
9th edition
132301202, 978-0132301206
