Question: How do I solve this? 8) You obtain a 30 year mortgage for $400,000 with a 3.5% annual interest rate and make annual payments of

How do I solve this? 8) You obtain a 30 year

How do I solve this?

8) You obtain a 30 year mortgage for $400,000 with a 3.5% annual interest rate and make annual payments of $20,000. The amount of your first payment that goes toward paying interest is A) $14,000 B) $20,000 C) $6,000 D) SO

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