Question: When amortizing a mortgage and preparing the schedule, which of the following is used to help find the interest earned for the monthly period? 1

When amortizing a mortgage and preparing the schedule, which of the following is used to help find the interest earned for the monthly period?
1
T =
12
Find the total interest on the mortgage and then divide it by the total number of periods, n,
for the loan.
the US Rule
use the number days between naments and divide by 360

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