Purchase Price Down Payment % Mortgage Terms (years) Interest Rate Month number 1 2 3 4...
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Purchase Price Down Payment % Mortgage Terms (years) Interest Rate Month number 1 2 3 4 5 6 7 8 9 10 11 12 House price is $245,000, You are making a down payment of 10% of the purchase price The rest you will finance. You are offered the following terms: 15 years fully amortized, monthly payments, 5.6% APR Using the information construct an amortization schedule for the entire duration of this loan. Calculate the begininning balance, payment amount, interest portion principal portion, and ending balance for each of the 180 months of the mortgage. 245,000 10.00% 15 5.60% Initial Loan Amount Monthly Interest Rate Monthly Payment Beginning Balance Monthly Payment Interest Portion Principal Portion Ending Balance Purchase Price Down Payment % Mortgage Terms (years) Interest Rate Month number 1 2 3 4 5 6 7 8 9 10 11 12 House price is $245,000, You are making a down payment of 10% of the purchase price The rest you will finance. You are offered the following terms: 15 years fully amortized, monthly payments, 5.6% APR Using the information construct an amortization schedule for the entire duration of this loan. Calculate the begininning balance, payment amount, interest portion principal portion, and ending balance for each of the 180 months of the mortgage. 245,000 10.00% 15 5.60% Initial Loan Amount Monthly Interest Rate Monthly Payment Beginning Balance Monthly Payment Interest Portion Principal Portion Ending Balance
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Related Book For
Operations management processes and supply chain
ISBN: 978-0136065760
9th edition
Authors: Lee J Krajewski, Larry P Ritzman, Manoj K Malhotra
Posted Date:
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