Question: Practic Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information to find the
Practic Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 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 1.52%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 4 Years and 7 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question $254961.48 Amortion 20 Years P/Y C/Y 12 Present Value of Loon (PV 254961.48 PI Months P2 Month 55 Number of Periods (N) 240 Monthly Payment (PMT) 1232.09 BALANCE OWING (BAL) Life Stages Mortgage Rate As % (V/ 1.52 Value Al End of Loan (PV) PRINCIPAL PAID (PRN) Its Applica 0 and Its Api Sedion Value: 7 INTEREST PAID (INT) Submit Answers LINE) "LINE)
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