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How much will you pay in? interest

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You have just purchased a home and taken out a $570,000 mortgage. The mortgage has a 30?-year term with monthly payments and an APR of 7.04%.

a. How much will you pay in? interest, and how much will you pay in? principal, during the first? year?

The principal payment will be ?$ ?(Round to the nearest? dollar.)

The interest payment will be ?$ (Round to the nearest? dollar.)

b. How much will you pay in? interest, and how much will you pay in? principal, during the twentieth year? (i.e., between 19 and 20 years from? now)?

The principal payment is ?$ ?(Round to the nearest? dollar.)

The interest payment is ?$ ?(Round to the nearest? dollar.)

Reference no: EM132640211

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