Only 23&25

23. Amortization table. Suppose we borrow $1500 at 4 % APR and pay it off in 24 monthly payments. Make an amortization table showing payments over the first three months. Payment number Payment Applied to balance owed Outstanding balance Applied to interest $1500.00 24. Another amortization table. Suppose we borrow $100 at 5 % APR and pay it off in 12 monthly payments. Make an amortization table showing payments over the first three months. Payment number Payment Applied to balance owed Outstanding balance $100.00 Applied to interest 25. Term of mortgage. There are two common choices for the term of a home mortgage: 15 or 30 years. Suppose you need to borrow $90,000 at an APR of 6.75% to buy a home. a. What will your monthly payment be if you opt for a 15-year mortgage? b. What percentage of your first month 's payment will be interest if you opt for a 15-year mortgage? (Round your answer to two decimal places as a percentage.) e. How much interest will you have paid by the end of the 15-year loan? d. What will your monthly payment be if you opt for a 30-year mortgage? e. What percentage of your first month's payment will be interest if you opt for a 30-year mortgage? (Round your answer to two decimal places as a percentage) f. How much interest will you have paid by the end of the 30-year loan? ls it twice as much as for a