You are buying your first house for $200,000, and are paying $30,000 as a down payment....

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You are buying your first house for $200,000, and are paying $30,000 as a down payment. You have arranged a 15-year mortgage with a 4.8% p.a. nominal interest rate and monthly payments. How much of your sixth monthly payment will go toward the repayment of principal? You are buying your first house for $200,000, and are paying $30,000 as a down payment. You have arranged a 15-year mortgage with a 4.8% p.a. nominal interest rate and monthly payments. How much of your sixth monthly payment will go toward the repayment of principal?

Answer rating: 100% (QA)

Step 12 A1 B C 2 Given purchase price of house is 200000 3 Less down payment 30000 4 Loan Amount is ... View the full answer