What is the amount of each mortgage payment

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Reference no: EM131883634

Beth Johnson takes out a 30-year, $375,000 mortgage at 3.75%. Mortgage payments are due at the end of each month, starting with the first month.

a. What is the amount of each mortgage payment?

b. What is the principal paid in the 3rd month? What is the interest paid in the 3rd month?

Reference no: EM131883634

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