Business, 05.05.2020 10:20 peggycab4201
The table shows the terms of a fixed-rate mortgage. A 2-column table has 4 rows. The first column is labeled Component with entries (P) Principal, (R) Monthly interest rate, (n) Total number of monthly payments (30-year term), (M) Monthly payment. The second column is labeled Cost with entries 200,000 dollars, 0.4 percent, 350, 1059 dollars and 85 cents. Which formula should be used to correctly calculate the monthly mortgage payment?
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The table shows the terms of a fixed-rate mortgage. A 2-column table has 4 rows. The first column is...
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