Home mortgage of \$200,000 at a fixed APR of 9% for 30 years

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Question description

Consider a home mortgage of \$200,000 at a fixed APR of 9% for 30 years;

Calculate the monthly payment.

Determine the total amount paid over the term of the loan.

Of the total amount paid, what % is paid toward the principal and what % for interest

Q

What will be the monthly payment?

What will be the total payment over the term of the loan?

Of the total payment over the term of the loan % ?

What % is paid toward the principal ?

What is paid toward %  ?

(Top Tutor) Daniel C.
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School: Duke University
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