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Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 89,000
Use the following amortization chart:
| Selling price of home | Down payment | Principal (loan) | Rate of interest | Years | Payment per $1,000 | Monthly mortgage payment | ||||
| $ 89,000 | $ 4,000 | $ 85,000 | 5.0% | 30 | $ 5.37 | $ 456.45 | ||||
What is the total cost of interest?
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
