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How much of payment 89 will go towards paying interest what


You borrowed $70,000 for 10 years at 4.8% compounded monthly.

a) How much of payment 89 will go towards paying interest?

b) How much of payment 72 will go towards paying off principle?

c) What will the ending balance be after you make one year of payments?

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Financial Management: How much of payment 89 will go towards paying interest what
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