Register

1. Michael obtained a 30-year, $90,000 mortgage with an interest rate of 8 percent, what is the interest For the first payment?

1. Michael obtained a 30-year, $90,000 mortgage with an interest rate of 8 percent, what is the interest For the first payment?
176k views
4 votes
1. Michael obtained a 30-year, $90,000 mortgage with an interest rate of 8 percent, what is the interest For

the first payment?

User Folibis
by
8.3k points

1 Answer

2 votes

Answer:

$600

Explanation:

P = L[c(1 + c)^n]/[(1 + c)^n - 1]

User Gavriel Cohen
by
7.9k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!