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Use the following information for the next 2 questions: Tony and Pepper are planning to buy a new house for $500,000. They can get approved
Use the following information for the next 2 questions:
Tony and Pepper are planning to buy a new house for $500,000. They can get approved for a 3.6% APR, 30-year mortgage. In an amortization schedule:
What is the amount of principal payment in their first monthly mortgage payment?
| $963 |
| $773 |
| $790 |
| $1,800 |
How much is the remaining principal balance after their second monthly mortgage payment?
| $499,226.77 |
| $498,450.54 |
| $776.23 |
| $490,538.12 |
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