You plan to purchase a 230000 house using a 15-year, Ask an Expert

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You plan to purchase a $230,000 house using a 15-year mortgage obtained from Ing Direct.. The mortgage rate offered to you is 3.25%. You will make a down payment of 25% of the purchase price.

a. Calculate your monthly payments on this mortgage.

b. Calculate the amount of interest and principal paid in the 36th payment.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92093247

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