A homebuyer is purchasing a house for $800,000. The buyer is paying 20% down and financing...

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A homebuyer is purchasing a house for $800,000. The buyer is paying 20% down and financing the reminder using a mortgage loan. After talking to the buyer's mortgage broker, the buyer secured a loan with 6% annual interest rate and a 30 year term with monthly payments. Fill in the first two rows of amortization schedule below. Answer in format of 123,456.78. Period Beg. Balance Total Payment Interest Payment Principal Payment En 1 2 A homebuyer is purchasing a house for $800,000. The buyer is paying 20% down and financing the reminder using a mortgage loan. After talking to the buyer's mortgage broker, the buyer secured a loan with 6% annual interest rate and a 30 year term with monthly payments. Fill in the first two rows of amortization schedule below. Answer in format of 123,456.78. Period Beg. Balance Total Payment Interest Payment Principal Payment En 1 2

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To fill in the first two rows of the amortization schedule we need to calculate the initial loan amo... View the full answer