For a 30-year house mortgage of $325,000 at 5.8% interest, find the following. (Round your final answers to two decimal places.) (a) the amount of the first monthly payment that goes to repay principal $ (b) the amount of the 181st month's payment (after 15 years) that goes toward payment of principal

For a 30-year house mortgage of $325,000 at 5.8% interest, find the following. (Round your final answers to two decimal places.) (a) the amount of the first monthly payment that goes to repay principal $ (b) the amount of the 181st month's payment (after 15 years) that goes toward payment of principal

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 6FPE

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