Amortization schedule for a 30 year Mortgage (2) Compatibility Mode] References Mailings Review View Table Design Layout -time purchase license. This license can only be used with Office apps downloaded directly from office.com Q1: You are plan to puchase a house for $150000 using a 30 year mortgage obtained from your local bank. The mortagage rate offered to you is 8% with zero point. In ordor to forgo the purchase of private mortgage insurance, you will make a down paument of 20% of the purchase price at closing, Amortization schedule for a 30 year Mortgage Month 2 Beginng loan Payment (formula) 4 5 Interest Principal (2c* annual =(3c-4c) interest Ending laon balances (2c-50 Month Payment (formula) Beginng loan balance (from the question) 120000 Interest Principal (2c* annual =(3c-4c) interest rate/12) Ending laon balance (2c-5c) *ON 119 120 (10 years) 105,623.54 105,447.14 239 240( 20 years) 73,359.08 72,967.62 359 1,743.58 360 (30874.69 years