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Mathematics 6 Online
OpenStudy (anonymous):

The kellermans recently purchased a home. They borrowed $156,000 at 4.8% interest for 30 years. (360 payments). Their monthly payment is $790.43. How much of the first payment is interest?

OpenStudy (anonymous):

do you have a formula for this? almost all is interest at the beginning but a formula would really help

OpenStudy (anonymous):

nope no formula..sorry

OpenStudy (anonymous):

hmmm how are you supposed to do it then?

OpenStudy (anonymous):

I really don't know thats why im asking. I guess they just want how much the interest is monthly not just in the beginning.

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