Discuss balance due principal payment and interest payment, Microeconomics

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Discuss balance due principal payment and interest payment

Problem

A 30-year mortgage for $120,000 has been issued. The interest rate is 10% and payments are made monthly. Print out the balance due, principal payment, and interest payment for each period.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Discuss balance due principal payment and interest payment

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