Pat Lavoie bought a home for $180,000 with a down payment of $10,000. Her rate of interest

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Pat Lavoie bought a home for $180,000 with a down payment of $10,000. Her rate of interest is 6% for 30 years. Calculate her

(a) Monthly payment

(b) First payment, broken down into interest and principal; and

(c) Balance of mortgage at the end of the month.


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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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