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On October 1, the home mortgage balance was $267,000 for the home owned by Linda Cooper. The interest rate for the loan
Posted: Sun Sep 05, 2021 5:09 pm
by answerhappygod
- On October 1 The Home Mortgage Balance Was 267 000 For The Home Owned By Linda Cooper The Interest Rate For The Loan 1 (49.51 KiB) Viewed 378 times
On October 1, the home mortgage balance was $267,000 for the home owned by Linda Cooper. The interest rate for the loan is 7 percent. Assuming that Linda makes the October monthly mortgage payment of $3204, calculate the following: (a) The amount of interest included in the October payment (round your answer to the nearest cent). (b) The amount of the monthly mortgage payment that will be used to reduce the principal balance. (c) The new balance after Linda makes this monthly mortgage payment. (a) Interest amount: Х ? (b) Principal reduction: (C) New balance: s]