If a person borrows $185,000 for thirty years at 7.99% APR (A) what will their monthly mortgage

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If a person borrows $185,000 for thirty years at 7.99% APR

(A) what will their monthly mortgage payment be?

(B) How much interest will they pay in the first 12 months?

Related Book For answer-question

Personal Financial Planning

ISBN: 978-1305636613

14th edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Apr 27, 2023 04:45 AM

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If a person borrows $185,000 for thirty years at 7.99% APR (A) what will their monthly mortgage

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To calculate the monthly mortgage payment we can use the formula M P r 1 rn 1 rn 1 where M Monthly m... View the full answer

Personal Financial Planning

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