(1 point) A family has a $171000 mortgage on a 30-year term at 7.5% compounded monthly....
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(1 point) A family has a $171000 mortgage on a 30-year term at 7.5% compounded monthly. (a) What is the rate per period? i= 0.075/12 (b) What is the monthly payment? 1195.66 dollars (c) In the first monthly payment, how much goes towards the payment of interest due? dollars (d) In the first monthly payment, how much goes towards the principal? (That is, how much of this payment is unpaid balance reduction?) dollars (e) After the first monthly payment, what is the remaining unpaid balance? dollars (1 point) A family has a $171000 mortgage on a 30-year term at 7.5% compounded monthly. (a) What is the rate per period? i= 0.075/12 (b) What is the monthly payment? 1195.66 dollars (c) In the first monthly payment, how much goes towards the payment of interest due? dollars (d) In the first monthly payment, how much goes towards the principal? (That is, how much of this payment is unpaid balance reduction?) dollars (e) After the first monthly payment, what is the remaining unpaid balance? dollars
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Related Book For
Fundamentals of Physics
ISBN: 978-0471758013
8th Extended edition
Authors: Jearl Walker, Halliday Resnick
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