Question: Drill Problem 15-4 [LU 15-1 (3)] Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per

Drill Problem 15-4 [LU 15-1 (3)]

Use the following amortization chart:

Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment
$ 78,000 $ 4,000 $ 74,000 5.5% 30 $ 5.68 $ 420.32

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