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Posted on Jul 20, 2024

If you borrow money to buy a small office building for $525,000 and the mortgage balance is to be paid off monthly over 30 years

If you borrow money to buy a small office building for $525,000 and the mortgage balance is to be paid off monthly over 30 years at an 8.0 percent (APR) rate of interest on the unpaid balance, what are the equal end-of-month payments?

In the last problem, how much of payment #40 is interest?

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