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QUESTION
You have just applied, and have been approved for a $58,000 mortgage. The rate quoted to you by the lender is 6.1% for a 30 year fixed mortgage. Determine how much of your third month’s payment goes
You have just applied, and have been approved for a $58,000 mortgage. The rate quoted to you by the lender is 6.1% for a 30 year fixed mortgage. Determine how much of your third month’s payment goes towards the principal. a. $56.65 c. $57.22 b. $56.93 d. $57.51
