Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have 300 monthly payments to go on your $800,000 mortgage loan. The monthly interest rate is .006. What is your payment? How much goes

image text in transcribed

You have 300 monthly payments to go on your $800,000 mortgage loan. The monthly interest rate is .006. What is your payment? How much goes to principal? How much goes to interest? a. payment = $4871.25, to principal = $2572.91, to interest - $2298.34 b.payment-$5430.34, to principal =$904.34, to interest $4525.98 c. payment -$6114.12, to interest=$1854.67, to interest - $4259.45 d. None of the above You have 300 monthly payments to go on your $800,000 mortgage loan. The monthly interest rate is .006. What is your payment? How much goes to principal? How much goes to interest? a. payment = $4871.25, to principal = $2572.91, to interest - $2298.34 b.payment-$5430.34, to principal =$904.34, to interest $4525.98 c. payment -$6114.12, to interest=$1854.67, to interest - $4259.45 d. None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance And Sustainability

Authors: William Sun, Celine Louche, Roland Perez

1st Edition

1780520921, 978-1780520926

More Books

Students also viewed these Finance questions

Question

define what is meant by the term human resource management

Answered: 1 week ago