A homeowner paid a fixed 3% on a 30-year mortgage of $200,000. 11a. Calculate the monthly...

A homeowner paid a fixed 3% on a 30-year mortgage of $200,000.

11a. Calculate the monthly mortgage payment. [10 points]

11b. Calculate the total interest payment over this 30-year period. [5 points]

11c. In the third monthly mortgage payment, calculate the interest payment. [5 points]

11d. In the fourth monthly mortgage payment, calculate the principal payment.

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jeff jeffy answered 1 year ago

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