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Solve the problem. Monthly Payment per $1000 of Mortgage Monthly payment 25-year 30-year loan $8.41 $8.78 $9.15 $9.53 $9.90 $10.29 $10.67 $11.06 Interest 15-year 20-year
Solve the problem. Monthly Payment per $1000 of Mortgage Monthly payment 25-year 30-year loan $8.41 $8.78 $9.15 $9.53 $9.90 $10.29 $10.67 $11.06 Interest 15-year 20-year rate 9.5% 10, 0% 10.5% 11 0% 11.5% 12.8% 12 . 5% 13.0% loan $10.45 $10.75 $11.06 $11.37 $11.69 $12.01 $12.33 $12.66 loan $9.33 $9.66 $9.99 $10.33 $10.66 $11.01 $11.36 11.72 l oan $8.73 $9.09 $9.45 $9.81 $10.16 $10.53 $10.9 $11.28 Eugene Merzbacher obtains a 20-year, $100,750 mortgage at 1 1% on a house selling for $121,000. His monthly payment, including principal and interest, is $1039.74. How much of the first payment on the mortgage is applied to the principal
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