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1) What is the EAR (effective annual rate) of a mortgage that is advertised at (your-5%) APR (annual percentage rate) over the next 20 years
1) What is the EAR (effective annual rate) of a mortgage that is advertised at (your-5%) APR (annual percentage rate) over the next 20 years and paid with monthly payments? Answer: ________________ Amortization Schedule for a $15,000 Loan at (your-5%) with 3 Annual Payments. Present the values for year 2 in the following table. 
Amortization Schedule for a $15,000 Loan at (your-5%) with 3 Monthly Payments. Present the values for the month 3 in the following table. 
Year Beginning Annual Interest Principal Remaining Principal Payment Expense Reduction Principal 2 51 52 53 54
1) What is the EAR (effective annual rate) of a mortgage that is advertised at (your-5%) APR (annual percentage rate) over the next 20 years and paid with monthly payments?
Answer: ________________
Amortization Schedule for a $15,000 Loan at (your-5%) with 3 Annual Payments. Present the values for year 2 in the following table.
Amortization Schedule for a $15,000 Loan at (your-5%) with 3 Monthly Payments. Present the values for the month 3 in the following table.
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