Question: You plan to purchase a $ 1 4 0 , 0 0 0 house using a 1 5 - year mortgage obtained from your local
You plan to purchase a $ house using a year mortgage obtained from your local credit union. The mortgage rate offered to you is percent. You will make a down payment of percent of the purchase price.
a Calculate your monthly payments on this mortgage.
b Construct the amortization schedule for the first six payments.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Construct the amortization schedule for the first six payments. Do not round intermediate calculations. Round your answers to decimal places. eg
tableAmortization Schedule for first payments monthsMonthtableBeginning LoanBalancePayment,Interest,Principal,tableEnding LoanBalance
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