A 30-year mortgage for $120,000 has been issued. The interest rate is 10% and payments are made

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A 30-year mortgage for $120,000 has been issued. The interest rate is 10% and payments are made monthly. Print out the balance due, principal payment and interest payment for each period.

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Engineering Economics

ISBN: 9780195168075

9th Edition

Authors: Ted G. Feller

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Question Posted: Mar 01, 2010 05:27 AM

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A 30-year mortgage for $120,000 has been issued. The interest rate is 10% and payments are made

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Payment 120K A P 1012360 120K 00877572 105308 083 105309 Balance Due 083 105309 Balance Due Month Interest Principal Month Interest Principal 0 12000000 50 11672388 1 100000 5309 11994691 51 97270 803...View the full answer

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