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Michelle took out a $370,000 30-year adjustable rate mortgage with a 3.8% initial 6-month rate. The amortization table for the

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Michelle took out a $370,000 30-year adjustable rate mortgage with a 3.8% initial 6-month rate. The amortization table for the initial rate period is shown. After the first 6 months, the rate went up to 4.8%. Calculate the next line of the amortization table.
Michelle took out a $370,000 30-year adjustable rate mortgage with
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Payment Beginning Monthly Towards owrds Ending NumberPayment Interest Principal Balance 1 370,000.00 1,724.04 1,171.67 552.38 369,447.62 2 369,447.62 1,724.04 1,169.92 554.12 368,893.50 3 368,893.50 1,724.04 1,168.16 555.88 368,337.62 4 368,337.62 1,724.04 1,166.40 557.64 367,.779.98 5 367,779.98 1,724.04 1,164.64 559.41367,220.57 367,220.57 1,724.04 1,162.87 561.18 366,659.40

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Financial Algebra advanced algebra with financial applications

Financial Algebra advanced algebra with financial applications

ISBN: 978-0538449670

1st edition

Authors: Robert K. Gerver

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Question Posted: April 14, 2016 05:04:41
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