Joreen
2 Answers
Clonge
roxen
Presuming the $250,000 is a first mtg for 30 years, most of the first payments are interest in the beginning of the contract, according to american finance traditionT therefore $8,000 divided by 5 =$1600.00, based on that payment, approximately, the interest on the loan would be about 6.5%, or or more, making the payment about $1580.17.
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