Colinda has just purchased her first home for $125,000. She put down a 20 percent down payment of $25,000 and took out a 5 perce

Question

3 years ago

11

Colinda has just purchased her first home for $125,000. She put down a 20 percent down payment of $25,000 and took out a 5 perce

nt mortgage for the rest. Her mortgage payment is $477 per month. How much of her first monthly mortgage payment is amortization?
A) $60.33

B) $243.67

C) $325.33

D) $143.67

Mathematics

1 answer:

german · Answer 1 · 2022-02-19T09:09:49+03:00

german3 years ago

3 0

The amount of amortization for the first month is $60.33.

For complete calculations, see question 9835011
or see attached image.