Calculate your monthly payments on this mortgage

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Reference no: EM132006736

You pan to purchase a $100,00 home using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8.25%. You will make a down payment of 20 percent of the purchase price.

Calculate the amount of interest and, separately, principal paid in the 25^th payment.

Reference no: EM132006736

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