Question
Marcel Thiessen purchased a home for $204,400 and obtained a 15-year, fixed-rate mortgage at 9% after paying a down payment of 10%. Of the first
Marcel Thiessen purchased a home for $204,400 and obtained a 15-year, fixed-rate mortgage at 9% after paying a down payment of 10%. Of the first month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answer to the nearest cent.)
| interest | $ |
| applied to the principal |
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Numerical Analysis And Optimization NAO-III, Muscat, Oman, January 2014
Authors: Mehiddin Al Baali, Lucio Grandinetti, Anton Purnama
1st Edition
3319176897, 9783319176895
