Prepare a mortgage amortization schedule based on the following terms.

Amount: $640,000

Rate: 10 Year Treasury plus 275 basis points

Term: 10 Years

Amortization: 30 Years

Payment: Annually

2.1 What is the annual payment?

2.2 What is the payment constant?

2.3 What is the mortgage balance at the end of year 10?

2.3 For the first payment, how much is Interest?

Answer rating: 100% (QA)

To prepare the mortgage amortization schedule well use the following terms Amount 640000 Rate 10 Year Treasury plus 275 basis points Term 10 Years Amo... View the full answer