You receive a fully amortized loan for 150000 at 4 for 30 ye

You receive a fully amortized loan for $150,000 at 4% for 30 years. What is your monthly P+I payment ? Please include keystrokes or input into your calculator A. $1,100.65 B. $12,000.00 C. $716.12 D. $479.71 Also what are the interest and principal components of the first monthly payment?

Solution

C) $716.12 per month, Intrest $500, Principal $216.12. Total 360 installments, Total intrest is $107,804.26

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