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need formula for A B C ENCES 10. Mans has a monthly payment of $1,780.00 on a $352,000 mortgage with a 4.6 % APR for

need formula for A B C image text in transcribed
ENCES 10. Mans has a monthly payment of $1,780.00 on a $352,000 mortgage with a 4.6 % APR for the CHAPTER ASSIGNMENT StudyForge Resources home he has just purchased. Assume interest rate is compounded monthly a. Determine the portion of the monthly payment that will go towards interest and principal for the first month. Corrections Start here b. Determine the portion of the monthly payment that will go towards interest and principal for the second month. Start here Corrections c. Explain why the amount the of the monthly payment in the second month that went towards interest has gone down, when compared to the first month. Start here Corrections

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