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 $ at percent interest for years. Payments are to be made monthly.
Required:
Calculate monthly payments.
Calculate interest and principal payments during month
Calculate total principal and total interest paid over years.
Calculate the outstanding loan balance at the end of year
Calculate total monthly interest and principal payments through year
Cacluate the breakdown of interest and principal in month
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