A 15-year 160000 mortgage has a rate of 57 percent1 what, Ask an Expert

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A 15-year, $160,000 mortgage has a rate of 5.7 percent.

1. What are the interest and principal portions in the first payment? (Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.

2. What are the interest and principal portions in the second payment? (Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91619798

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