Question: A fully amortizing mortgage loan is made for $ 9 1 , 0 0 0 at 6 percent interest for 2 5 years. Payments are

A fully amortizing mortgage loan is made for $91,000 at 6 percent interest for 25 years. Payments are to be made monthly.
Required:
Calculate monthly payments.
Calculate interest and principal payments during month 1.
Calculate total principal and total interest paid over 25 years.
Calculate the outstanding loan balance at the end of year 10.
Calculate total monthly interest and principal payments through year 10.
Cacluate the breakdown of interest and principal in month 50.

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