you obtained a mortage of 205000 at 5.25 percent per yesr for 18yrs how much of the theord mknthly payment is ap...

Question

Question

obtained a mortgage of S205.000 at 5.25 percent per year for onthly payment is applied to interest?

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you obtained a mortage of 205000 at 5.25 percent per yesr for 18yrs how much of the theord mknthly payment is applied to intrest

Answer 1

Answer #1

Amount of loan = $205,000 Interest rate = 5.25%* 1/12 = 0.4375 % Per month Term = 18 Years * 12 = 216 Months Monthly payment

Answer 2

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