Consider a home mortgage of ​$150 comma 000 at a fixed APR of 4.5 ​% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total...


Consider a home mortgage of


​$150 comma 000


at a fixed APR of


4.5

​%

for


20



years.


a. Calculate the monthly payment.

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

c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for interest.


Jun 06, 2022
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