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You have just purchased a home and taken out a $ 5 4 0 , 0 0 0 mortgage. The mortgage has a 3 0
You have just purchased a home and taken out a $ mortgage. The mortgage has a year term with monthly payments and an APR of
a How much will you pay in interest, and how much will you pay in principal, during the st year?
b How much will you pay in interest, and how much will you pay in principal, during the h year ie between and years from now
a How much will you pay in interest, and how much will you pay in principal, during the st year?
The principal payment during the st year will be $
Round to the nearest cent.
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