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How much of the first payment is interest

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Question - Finance and Growth - If you have a home loan for $250,000.00 and the monthly payment is $1,350.00 with interest rate of 2.4% compounded monthly. How much of the FIRST payment is interest?

How much is left of the FIRST payment to pay down the principle? What is the balance after the FIRST payment has been made?

Reference no: EM133153299

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