Question
Please help me study, Please help me fill in the blanks for this problem. You just acquired a mortgage in the amount of $149,500 at
Please help me study, Please help me fill in the blanks for this problem. You just acquired a mortgage in the amount of $149,500 at 9.00 percent interest, compounded monthly. Equal payments are to be made at the end of each month for thirty years. How much of the first loan payment is interest (in dollars)? How much will be principal?
The amount of the first payment which isinterestwill be calculated as_______ $multiplied by (x)________equals (=)_________
The amount of the first payment which isprincipalwill be calculated as $___________minus (-)_____________ $equals (=) $___________
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