Question: You took out a fully amortizing 30 year fixod rate $300,000.00 mortgage with 6% contract interest rate. After you completed two full years of payments,

You took out a fully amortizing 30 year fixod rate $300,000.00 mortgage with 6% contract interest rate. After you completed two full years of payments, how much have you paid toward principal? QUESTION 4 A borrower takes out an interest-only loan at 6% for $500,000 with a 10 year term. What is the monthly payment on this loan? (State your answer as a positive number, roundod to two decimal places.)

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