Consider a standard mortgage (360 months) with monthly payments and a nominal rate of 6.70%. what portion of the payments during the first 29 months goes toward principal?

P=principal, n=360 months, i=0.067/12 monthly

The equal monthly payments are:

=0.0064527798P

Future value of principal after 29 months

F=P(1+i)^29=P(1+0.067/12)^29=1.1752328813 P

Future value of payments after 29 months

=0.2025204525P

Amount owing after 29 months

=1.1752328813 P - 0.2025204525P

=0.9727124288P

Amount of principal repaid

= P-0.9727124288P

= 0.0272875712P

Portion of payment towards capital (current dollars)

= 0.0272875712P / (29A)

= 0.0272875712/0.1871306136

= 0.14582, or 14.6%

answer: 30

step-by-step explanation: its 30 because im a basketball player and stephen curry hits most of his shots so if you put 30 you might make the shot goodluck