A 25-year mortgage of $185,548.61 at 4.2% interest compounded monthly has monthly payments of $1000. After how

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A 25-year mortgage of $185,548.61 at 4.2% interest compounded monthly has monthly payments of $1000. After how many months will at least 75% of the monthly payment go toward debt reduction?

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Finite Mathematics And Its Applications

ISBN: 9780137616619

13th Edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel , Jill Simmons

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Question Posted: Jan 30, 2023 07:43 AM

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A 25-year mortgage of $185,548.61 at 4.2% interest compounded monthly has monthly payments of $1000. After how

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The calculation of the amount of a mortgage payment that goes toward reducing debt depends on the am...View the full answer

Finite Mathematics And Its Applications

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