For a 30-year loan with a face value of 150,000, 5 percent annual interest, and monthly payments

Question:

For a 30-year loan with a face value of 150,000, 5 percent annual interest, and monthly payments find the monthly payment and remaining mortgage balance at the end of year 5 and 20, and 30.

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...