Mathematics, 01.05.2021 23:20 ajam71501

A LOT OF POINTS!! Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. Your monthly payment is $450.00.

How much of your first payment goes toward interest?

Make sure you show your work to earn full credit.

Answers: 3

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A LOT OF POINTS!! Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. You...

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A LOT OF POINTS!! Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. Your monthly payment is $450.00. How much of your first payment goes toward interest? Make sure you show your work to earn full credit.

Answers

Another question on Mathematics

A LOT OF POINTS!! Suppose you borrow $40,000 at 13% APR for a 12-year term to be paid monthly. Your monthly payment is $450.00.

How much of your first payment goes toward interest?

Make sure you show your work to earn full credit.