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What are interest and principal portions in second payment

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Reference no: EM132694656

A 15-year, $160,000 mortgage has a rate of 5.7 percent.

a. Interest:Principal:

b. Interest:Principal:

Problem 1: What are the interest and principal portions in the first payment? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Problem 2: What are the interest and principal portions in the second payment? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Reference no: EM132694656

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