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Determine the monthly payments on a $150,000 mortgage (loan) at 6.00% (annual interest) compounded (paid) monthly for 30 years. ($ 899.32). What is total interest paid over the 30 years? (Total payments less initial present value) How much is paid against the principle in the first month? ( first monthly payment made (above) less interest for first month (0.50% of principle)) WITHOUT USING EXCEL

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91231944

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