A 92000 mortgage has a 30-year term and a 9 nominal, Ask an Expert

Economics

A $92,000 mortgage has a 30-year term and a 9% nominal interest rate.

(a) What is the monthly payment?

(b) After the first year of payments, what fraction of the loan has been repaid?

(d) How much interest is paid in Month 25? How much principal?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92634831

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