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Find total amount of interest paid in first payments

Cindy and Max have a 300,000 home loan for 30 years at nominal interest rate 7.2% convertible monthly. Find:

a. their monthly payment
b. their balance after 180 payments
c. the total amount of interest paid in their first 180 payments
d. the amount of principle in the 120th payment

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Finance Basics: Find total amount of interest paid in first payments

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Find total amount of interest paid in first payments

Reference No:- TGS0675110

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Price variance and the efficiency variance

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Q : What variance is due to change in rates

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Find total amount of interest paid in first payments

Reference No:- TGS0675110

Recent Questions Asked Finance Basics

Q : Price variance and the efficiency variance

Q : Comparison of two religions

Q : Value per share of casino games company

Q : What variance is due to change in rates

Q : Find total amount of interest paid in first payments

Q : Describe how mancuscos control of variable manufacturing

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Q : A proposed new investment has projected sales

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