Question: After saving up, yuo can finally place a down payment on a home and a mortgage. You decide to put 20% down on a $500,000

After saving up, yuo can finally place a down payment on a home and a mortgage. You decide to put 20% down on a $500,000 home with a 30 year mortgage at 4% annually. You are making monthly payments.

What is the first payment? How much is going to interest and how much to princial? How much interest will you pay over the life of the loan?

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