12. Challenge question: Home mortgages use amortization schedules, but the principal balance might be 10 or...

 

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12. Challenge question: Home mortgages use amortization schedules, but the principal balance might be 10 or 100 times larger than Janet's $3500 trip. They're typically paid back over a period of 30 years at a much lower interest rate (~4%). Explain what you think that amortization schedule might look like. 12. Challenge question: Home mortgages use amortization schedules, but the principal balance might be 10 or 100 times larger than Janet's $3500 trip. They're typically paid back over a period of 30 years at a much lower interest rate (~4%). Explain what you think that amortization schedule might look like.

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An amortization schedule for a home mortgage typically outlines the repayment plan for the loan over a specified period such as 30 years In this case ... View the full answer