Question: A house sells for $162,000 and a 5% down payment is made. A mortgage is secured at 6% for 30 years. Compute an amortization schedule

A house sells for

$162,000

and a

5%

down payment is made. A mortgage is secured at

6%

for

30

years. Compute an amortization schedule for the first

3

months. Round your answers to two decimal places, if necessary.

The value of the mortgage is

$153,900

and the monthly payment is

$923.40

.

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