1 2 Price of House = 3 Downpayment= 4 Amount of loan = 5 Interest Rate (%) = 6 Loan term (in months) 7 Monthly payment = 8 B home mortagage $450,000 $90,000 $360,000 4% 360 $1,718.70 E D C 10 Periods Payment Interest Expense Loan Repayment Loan Balance $360,000 11 0 12 1 $1,718.70 13 2 $1,718.70 14 3 $1,718.70 15 4 $1,718.70 16 $1,718.70 17 6 $1,718.70 18 7 $1,718.70 19 8 $1,718.70 20 9 $1,718.70 21 10 $1,718.70 22 11 $1,718.70 23 12 $1,718.70 24 13 $1,718.70 25 14 $1,718.70 26 15 $1,718.70 27 16 $1,718.70 28 17 $1,718.70 T