Question
You have just acquired a home mortgage for thirty years in the amount of $275,000 at an annual percentage rate of 4.80% per annum, interest
You have just acquired a home mortgage for thirty years in the amount of $275,000 at an annual percentage rate of 4.80% per annum, interest compounded monthly. How much of the first monthly payment will be principal if the loan is repaid in equal monthly payments? [Note: submit you answer to the nearest USA dollar without the dollar sign]
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The Business Of Personal Finance
Authors: Joseph Calandro Jr, John Hoffmire
1st Edition
1032104562, 978-1032104560
