Question: SHOW CLEAR WORK ON EXCEL Regarding Problem 3,how much total interest and principal would be paid over the entire 30-year life of the mortgage in

SHOW CLEAR WORK ON EXCEL

Regarding Problem 3,how much total interest and principal would be paid over the entire 30-year life of the mortgage in each case? Which payment pattern would have the greatest total amount of interest over the 30-year term of the loan? Why?

(reference problem 3)

A fully amortizing mortgage loan is made for $100,000 at 6 percent interest for 30 years. Determine payments for each of the periods ad below if interest is accured:

a. Monthly.

b. Quarterly.

c. Annually.

d. Weekly.

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