Towards paying interest, Mariah borrowed $22,000 for 25

Towards paying interest

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Reference no: EM131185102

Mariah borrowed $22,000 for 25 years at 9.4 percent compounded monthly. What is Mariah's monthly payment? How much of payment 231 will go towards paying interest? How much of payment 180 will go towards paying off principal?What will the ending balance be after Mariah has made one year of payments?

Reference no: EM131185102

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