Calculate the monthly payment

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Reference no: EM131615546

Consider a home mortgage of ?$175,000 at a fixed APR of 3% for 30 years.

a. Calculate the monthly payment.

b. Determine the total amount paid over the term of the loan.

c. Of the total amount? paid, what percentage is paid toward the principal and what percentage is paid for interest.

Reference no: EM131615546

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