The majority of each monthly payment for the first five years of the loan goes to pay the interest. As Matt and Evelyn have a 30-year, $160,000 mortgage.
What are monthly payments?
Monthly payments are the installment or the payouts which are given to the employees, both can consider as the monthly payments. Monthly pay can be taken or received by the person, if the person is working they will get and if one has take loan they have to give.
Thus, it is interest.
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