Solve: 3.2/s = 0.4/8
640
64
6.4
0.16

You have just applied, and have been approved for a $58,000 mortgage. the rate quoted to you by the lender is 6.1% for a 30 year fixed mortgage. determine how much of your third month’s payment goes towards the principal. $56.65 $56.93 $57.22 $57.51