Use an amortization table to solve the problem. Round to the nearest cent.
-A $90,000 home was financed by making a 20% down payment and signing a 30-year mortgage at 6.25%
annual interest compounded monthly for the unpaid balance. The first payment is $443.32. How much of the
first month's payment will apply towards reducing the principal?

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The Answer of Use an amortization table to solve the problem. Round to the nearest cent.
-A $90,000 home was financed by making a 20% down payment and signing a 30-year mortgage at 6.25%
annual interest compounded monthly for the unpaid balance. The first payment is $443.32. How much of the
first month's payment will apply towards reducing the principal?

Use an Amortization Table to Solve the Problem