Question

consider a home mortgage of $200,000 at a fixed APR of 3% for 20 years. a....

consider a home mortgage of $200,000 at a fixed APR of 3% for 20 years.
a. calculate the monthly payment
B. determine the total amount paid over term of the loan.
c. of the total anount paid what percentage is paid toward the principal and what percentage is paid for interest.

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Answer #1

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