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You are borrowing $200,000 on a 30-year mortgage, with an annual interest rate of 10 percent. Assuming end-of-month payments, determine the monthly payment, the monthly
You are borrowing $200,000 on a 30-year mortgage, with an annual interest rate of 10 percent. Assuming end-of-month payments, determine the monthly payment, the monthly interest payment, and the amount paid toward the principal each month.
Please show given excel formulas and functions to figure out the total payments for each month, the interest, principal, and interest plus principal.
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