Mathematics, 28.09.2021 01:00 cassiegagnier73
Becky takes out a 30-year mortgage at on which her monthly payment is $1200. During the early years of the mortgage, most of each payment is for interest and the rather small remainder for the principal. As time goes on, the portion of each payment that goes for interest decreases while the portion for principal increases, a) Approximately how much of the $1200 monthly payment goes for interest in year 10? b) In what year will the monthly payment be equally divided between interest and principal?
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Becky takes out a 30-year mortgage at on which her monthly payment is $1200. During the early years...
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