Question: please answer with detail step so i can understand Do not use excel!! 5. Below is a part of a mortgage amortization schedule Payment Interest

please answer with detail step so i can understand Do not

please answer with detail step so i can understand

Do not use excel!!

5. Below is a part of a mortgage amortization schedule Payment Interest Principal Balance 243.07 242.81 31.68 31.94 a. C. Determine The monthly payment b. The effective rate of interest per month The nominal rate of interest i(2), rounded to the nearest 1/8 % d. The outstanding balance just after the first payment shown above. The remaining period of the mortgage of interest rates don't change. e

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