Question: Instructions You Have Decided to use a 25 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage

Instructions You Have Decided to use a 25 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.71%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 3 Years and 5 Months. Input all the TVM variables and answers into the fields below. Amortization Mortgage Amount From Previous Question $143.214 25 Years P1 Months P2 Months P/Y C/Y Present Value of Loan (PV Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) Value At End of Loan (FV) PRINCIPAL PAID (PRN) Mortgage Rate As % (l/Y) 3.71 Section Value: 7 INTEREST PAID (INT) Submit Answers

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