Question: Please solve the questions using a formula not using excel or a finance calculator 632. (Calculating the components of an annuity payment) You have just

Please solve the questions using a formula not using excel or

Please solve the questions using a formula not using excel or a finance calculator

632. (Calculating the components of an annuity payment) You have just bought a house for 270,000 by taking a 20-year mortgage for the same amount at 8 percent per an- num payable in monthly installments. What will your monthly payments be? Use a spreadsheet to calculate your answer. Now calculate the amounts in the 50th monthly payment that goes toward interest and principal, respectively

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