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Mathematics, 16.01.2021 09:30 ntrann22

Mortgage loan of $38,600.00. Interest rate is 5.5 percent.
Monthly payment is $265.57.
a. How much of the first monthly payment is for interest?
b. How much of the first payment is for principal?
c. What is the new principal?

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Mortgage loan of $38,600.00. Interest rate is 5.5 percent.
Monthly payment is $265.57.
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