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

Ena asked Dec 24, 2023

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Ena asked Dec 24, 2023

by Ena

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14 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:

Milosz Krajewski answered Dec 31, 2023

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