Alexis recently purchased a new home She financed $325,000 at 6.00 percent over 30 years. How...

Alexis recently purchased a new home She financed $325,000 at 6.00 percent over 30 years.

How much is Alexis’s monthly payment?

How much interest will she pay over the first 5 years of the loan?

How much principle will she pay over year 5 through 8?

What is the loan balance after 12 years?

What is the effective rate on the loan?

Expert Solution

jeff jeffy answered 1 year ago

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