Question: On August 1 , you borrow $ 1 8 0 , 0 0 0 to buy a house. The mortgage rate is 7 . 0
On August you borrow $ to buy a house. The mortgage rate is percent. The loan is to be repaid in equal monthly payments over years. The first payment is due on September How much of the tenth payment applies to the principle balance? Assume that each month is equal to of a year.
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