The principal and interest payment on the twelfth payment

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Reference no: EM131020262

If you were going to buy your office from Mrs. Beach for $500,000 with a 10% down payment and 15 years with a 6% interest rate. a. How much would your payments be each month? b. What would be the principal and interest payment on the first payment? c. What would be the principal and interest payment on the twelfth payment? d. What type of a problem is this?

Reference no: EM131020262

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