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What function would you use to calculate the total interest paid for the first year of a mortgage?.
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What function would you use to calculate the total interest paid for the first year of a mortgage?.

User Jevgeni Smirnov
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1 Answer

5 votes

Answer:

To calculate the total interest paid for the first year of a mortgage, the formula M = [P.r (1+r)n] / [(1+r)n-1] × 12 can be used.

Step-by-step explanation:

User Mattt
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