Question
You borrowed $80,000 to finance the purchase of a home through a standard 30-year fixed rate mortgage with an annual interest rate of 8 percent
You borrowed $80,000 to finance the purchase of a home through a standard 30-year fixed rate mortgage with an annual interest rate of 8 percent compounded monthly. What is your monthly mortgage payment? How much interest and how much principal repayment are in your first monthly mortgage payment?
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Essentials Of Real Estate Finance
Authors: David Sirota
11th Edition
1419520911, 9781419520914
