You purchase a house in East Lansing, MI. You calculate the amount financed to be $203,315. You obtain a 15-year mortgage with an interest rate of 3.8% and have calculated a monthly payment of $1,062. For the following, round your answer to the nearest cent. The payment on the principle in the first month is.
You purchase a house in East Lansing, MI. You calculate the amount financed to be $203,315. You obtain a 15-year mortgage with an interest rate of 3.8% and have calculated a monthly payment of $1,062. For the following, round your answer to the nearest cent. The payment on the principle in the first month is.
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 6FPE
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