Solution-Determining the payment at the end of the first

Determining the payment at the end of the first month

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You purchased a new house for $200,000 and financed the entire purchase with a $200,000 mortgage, payable monthly over 30 years at a yearly rate of 5.5%. How much are your monthly payments, assuming you made your first payment at the end of the first month? How much do you owe on this house today after making 4 years of monthly payments?

Reference no: EM132516092

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Determining the payment at the end of the first month

Reference no: EM132516092

Reference no: EM132516092

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