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Intro You just took out a 15-year traditional fixed-rate mortgage for $200,000 to buy a house. The interest rate is 6% (APR) and you have
Intro You just took out a 15-year traditional fixed-rate mortgage for $200,000 to buy a house. The interest rate is 6% (APR) and you have to make payments monthly. Part 1 Attempt 1/10 for 10 pts. What is your monthly payment? No decimals Submit I Attempt 1/10 for 10 pts. Part 2 How much of your first monthly payment goes towards paying down the outstanding balance (in $)? No decimals Submit Part 3 IB Attempt 1/10 for 10 pts. What is the outstanding balance after 1 year if you have made all 12 payments on time
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