Suppose you bought a house on January 1 and took out a mortgage for $400,000. The...

Suppose you bought a house on January 1 and took out a mortgage for $400,000. The amortized loan requires annual payments for 15 years. For tax purposes you want to figure out how much you will pay in interest in each year of the loan. Assuming the loan's interest rate is 9%, how much will you pay in interest in the 2nd year of the loan.

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jeff jeffy answered 1 year ago

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