Question: Problem 7 - 1 ( LG 7 - 4 ) You plan to purchase a ( $ 1 5 0 , 0 0
Problem LG You plan to purchase a $ house using a year mortgage obtained from your local credit union. The mortgage rate offered to you is percent. You will make a down payment of percent of the purchase price. a Calculate your monthly payments on this mortgage. b Calculate the amount of interest and, separately, principal paid in the th payment. c Calculate the amount of interest and, separately, principal paid in the th payment. d Calculate the amount of interest paid over the life of this mortgage. For all requirements, do not round intermediate calculations. Round your answers to decimal places. eg
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