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You take out a 25 year mortgage for $365,000 to buy a new house. What will your monthly payments be if the interest rate on
You take out a 25 year mortgage for $365,000 to buy a new house. What will your monthly payments be if the interest rate on your mortgage is 7%? Using a spread sheet. Calcualte the portion of the 48th monthly payment that goes toward interest principal. Use five decimal places for the monthly interest rate in your calculations.
A. Using a spreadsheet to calculate the answer, the monthly payments are? $
B. What is the portion of the 48th monthly payment that gowes toward interest principal?
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