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A $245,000 mortgage for 25 years for a new home is obtained at the rate of 9.2% compounded monthly. Find (a) The monthly payment, (b) The interest in the first payment, (c) The principal repaid in the
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A $245,000 mortgage for 25 years for a new home is obtained at the rate of 9.2% compounded monthly. Find

(a) The monthly payment,

(b) The interest in the first payment,

(c) The principal repaid in the first payment, and (d) The total interest paid.

User GavinBurke
by
3.0k points

1 Answer

2 votes

Answer:

a

Explanation:

common sense dummy

User Goe
by
3.4k points
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