Question: (8 points) Suppose you take out a $340,000 fully-amortizing fixed rate mortgage loan that has a term of 30 years and an interest rate of

  1. (8 points) Suppose you take out a $340,000 fully-amortizing fixed rate mortgage loan that has a term of 30 years and an interest rate of 3.75%.

  1. (2 points) What is the total payment at maturity?

  1. (2 points) What is the total interest paid?

  1. (2 points) What percent (%) of the total payment was paid to interest?

  1. (2 points) What percent (%) of the total payment was paid to principal?

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