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