Compute the required monthly payment on a $260,000, 35-year fixed-rate mortgage with a nominal interest rate of 8.80%. U

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answerhappygod
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Compute the required monthly payment on a $260,000, 35-year fixed-rate mortgage with a nominal interest rate of 8.80%. U

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Compute the required monthly payment on a $260,000, 35-year
fixed-rate mortgage with a nominal interest rate of 8.80%. Using
table for first three months indicate that: a. How much of the
payment goes toward principal? b. What is the amount that goes
towards interest payment?
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