Tom has a 23-year home mortgage. He borrowed $180,000 at a rate of 3.80% (fixed). How much

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Tom has a 23-year home mortgage. He borrowed $180,000 at a rate of 3.80% (fixed). How much of his first monthly mortgage payment will go towards interest (as opposed to principal)?

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Oct 24, 2023 01:40 PM

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Tom has a 23-year home mortgage. He borrowed $180,000 at a rate of 3.80% (fixed). How much

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To calculate how much of Toms first monthly mortgage payment will go towards interest we can use a f... View the full answer

Personal Finance

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