21) use amortization table to answer this question bob jones brought a new log cabin for $325,00 at 8% interest for 30 years.he had to pay 20% down to obtain the loan. required from the amortization table how much of the monthly payment is applied to interest in the first month?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
21) use amortization table to answer this question
bob jones brought a new log cabin for $325,00 at 8% interest for 30 years.he had to pay 20% down to obtain the loan.
required
from the amortization table how much of the monthly payment is applied to interest in the first month?
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