Question: On December 1 , you borrow $ 2 1 0 . 0 0 0 to buy a house. The mortgage rate is 8 . 2

On December 1, you borrow $210.000 to buy a house. The mortgage rate is 8.25 percent. The loan is to be repuid in equal monchly payments over 20 years. The first payment is due on January. 1. Which one of the following statements is true assuming that you repay the loan as agreed?
The total amount paid is about 5429,442.
The monthly pyyment is 52,037,30.
The total interest paid is $278,952.
The monthly imerest rate is 75 percent,
The first payment reduces the principle balance by $1,443.75.
On December 1 , you borrow $ 2 1 0 . 0 0 0 to buy

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