Calculate your monthly payments on this mortgage

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Reference no: EM132006736

You pan to purchase a $100,00 home using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8.25%. You will make a down payment of 20 percent of the purchase price.

Calculate your monthly payments on this mortgage

Calculate the amount of interest and, separately, principal paid in the 25th payment.

Reference no: EM132006736

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