What is outstanding principle on loan at calendar year end

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Morgan and Teri bought a house for $650,000 on August 1. They made an initial investment of 15% and financed the balance over 15 years at 3.75%. What is their monthly payment and when do they make the first payment?

How much interest will they pay in the first calendar year?

How much principle will they repay in the first calendar year?

What is the outstanding principle on the loan at calendar year end?

Reference no: EM131970043

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