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WebFeb 23, 2024 · An interest rate is a percentage that shows how much you’ll pay your lender each month as a fee for borrowing money. Your mortgage lender calculates interest as a percentage of your principal over time. For example, if your principal loan is $200,000 and your lender charges you an interest rate of 4%, this means that you pay $8,000 (4% of ... WebThis finance video tutorial explains how to calculate the monthly payment on a mortgage given the principal, the interest rate, and the loan period. This vi... palm city chamber of commerce fl
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