Question

We take a 30-year loan with an interest rate of 4% (compounded monthly) for $200,000. Of the 180th payment, how much money goes towards the loan principal? Round your answer to the nearest dollar, omit the $ sign, and enter your answer as a positive number.

Answer 1

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We take a 30-year loan with an interest rate of 4% (compounded monthly) for $200,000. Of the 180th payment, how much money goes towards the loan principal? Round your answer to the nearest dollar, omit the $ sign, and enter your answer as a positive number.