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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.

Respuesta :

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Answer:

You get $45,200 first with interest with the 5400 you made in 1 year that dedeucts

Step-by-step explanation:

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