Question: Answer the Question below, Do not copy paste from others please, Own Calculation Compute the required monthly payment on a $100,000 20-year-fixed-rate mortgage with a

Answer the Question below, Do not copy paste from others please, Own Calculation

  1. Compute the required monthly payment on a $100,000 20-year-fixed-rate mortgage with a nominal interest rate of 5%. What is the balance due at the end of the first year? Construct the amortization table for the 1st year (12 months). Show your work; do not use a mortgage calculator.

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