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You plan to purchase a $250,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6.25
You plan to purchase a $250,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6.25 percent. You will make a down payment of 20 percent of the purchase price.
A. Your monthly payment on this mortgage is $________.
B. $_____________ is the amount of interest and $___________ is the amount of principal repaid in the 28th payment.
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