You bought a house for $1,000,000. You paid 20% as the down payment and financed the rest.
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Question:
You bought a house for $1,000,000. You paid 20% as the down payment and financed the rest. The mortgage loan has 30 years maturity and 4% APR which is compounded monthly. Use Excel Spread sheet to amortize the loan and find out the monthly principle and interest payments through out the life of this loan.
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