Question
For a 30-year house mortgage of $300,000 at 4.8% interest, find the following. (Round your final answers to two decimal places.) (a) What is the
For a 30-year house mortgage of $300,000 at 4.8% interest, find the following. (Round your final answers to two decimal places.)
(a) What is the amount of the first monthly payment that goes to repay principal?
(b) What is the amount of the 181st month's payment (after 15 years) that goes toward payment of principal?
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The Analysis And Use Of Financial Statements
Authors: Gerald I. White, Ashwinpaul C. Sondhi, Haim D. Fried
2nd Edition
0471111864, 978-0471111863
