32. Partial amortization schedule for mortgages. Margie Rogers secures a mortgage loan of $112,000 from Hanover National Bank. The terms of the mortgage require monthly payments of $802.40 for 20 years. The interest rate to be applied to the unpaid balance is 6% per year compounded monthly.

Prepare an amortization schedule showing payments, interest reduction in principal and remaining balance for the first six months of the loan.?

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CertainlyHere is a partial amortization schedule for the first six months of Margie Rogers mort... View the full answer