Figure 6.27 shows a portion of an amortization table for a 30 -year, ($ 165,900) mortgage. Use
Question:
Figure 6.27 shows a portion of an amortization table for a 30 -year, \(\$ 165,900\) mortgage. Use that table to answer the following questions.
Transcribed Image Text:
Loan Amount Interest Rate (annual) Term (Years) Monthly Payment Amortization Schedule Calculator $165,900.00 5.61% 30 $953.44 Month Payment Principal Interest Total Interest Balance 167 $953.44 $385.77 $567.67 $114,366.57 $121,041.52 168 $953.44 $387.57 169 $953.44 $389.39 170 $953.44 $391.21 171 $953.44 $393.04 172 $953.44 $394.87 $565.87 $114,932.44 $564.06 $115,496.50 $120,264.56 $562.24 $116,058.73 $119,873.35 $560.41 $116,619.14 $558.57 $117,177.71 $120,653.95 $119,480.32 $119,085.44 173 $953.44 $396.72 $556.72 $117,734.44 $118,688.73 174 $953.44 $398.57 175 $953.44 $400.44 $554.87 $553.01 $118,289.31 $118,290.15 $118,842.31 $117,889.71 176 $953.44 $402.31 $551.13 $119,393.45 $117,487.41 177 $953.44 $404.19 178 $953.44 $406.08 179 $953.44 $407.98 $549.25 $547.36 $545.47 $121,035.53 $119,942.70 $117,083.22 $120,490.06 $116,677.14 $116,269.16 180 $953.44 $409.89 $543.56 $121,579.09 $115,859.27 181 $953.44 $411.80 $541.64 $122,120.73 $115,447.47
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