I seem to be going wrong somewhere on A.
Homework Answers
a The amount that laura and martin will pay for their house
Intial Payment =200000-1700000 =30000
Loan repayment =1368.50*30 years * 12 months =492660
Hence amount laura and martin will pay =492660+30000=$52260
b how much cost will be interest =492660-170000=$322660
c How much of the the first payment on mortgage us applied to principal =$170000/(30*12)=$472
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I seem to be going wrong somewhere on A.
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