A $245,000 mortgage for 25 years for a new home is obtained at the rate of 9.2% compounded monthly. Find (a) The monthly payment, (b) The interest in the first payment, (c) The principal repaid in the

A $245,000 mortgage for 25 years for a new home is obtained at the rate of 9.2% compounded monthly. Find

(a) The monthly payment,

(b) The interest in the first payment,

(c) The principal repaid in the first payment, and (d) The total interest paid.

1 Answer

A $245,000 mortgage for 25 years for a new home is obtained at the rate of 9.2% compounded monthly. Find (a) The monthly payment, (b) The interest in the first payment, (c) The …

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

Related questions

Categories

Other Questions