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The home is priced at $395,000. The bank is offering you a 4% interest rate with monthly payments for thirty years. The downside is the
The home is priced at $395,000. The bank is offering you a 4% interest rate with monthly payments for thirty years. The downside is the bank is requiring a 5% down payment. A. What is your monthly house payment? B. Please amortize the first six months of home payments. Make sure to label everything appropriately. C. What portion of your first six months of payments goes towards interest? What portion of your first six months of payments goes towards principal? Round answers 4 decimal places.
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