Question: 1) Click on the Loan Amortization Software Link - Mortgage Calculator Website (on next page) 2) Enter they following information in to the loan amortization

1) Click on the Loan Amortization Software Link - Mortgage Calculator Website (on next page) 2) Enter they following information in to the loan amortization calculator Loan Type: Mortgage Loan Amount: $180,000 Term: 30 Years Interest Rate: 5.25% 3) Click Calculate 4) When the amortization schedule appears, change the start date to January 2021 5) Using a Word document, answer the following questions: a) What is the monthly payment (principal and interest)? b) What month will the Loan be paid-off? c) What is the mortgage loan balance at the end of year 2021? d) What is the mortgage loan balance at the end of year 2031? e) Change the Interest Rate to 3.0%. What is the new loan monthly payment (principal and interest)? 6) Upload your word document solution page to the Loan Amortization Drop Box

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