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13. (10 points) You decide to purchase a home priced at $350,000.00 with a 10% down payment. The mortgage lender approves you for a 30-year
13. (10 points) You decide to purchase a home priced at $350,000.00 with a 10% down payment. The mortgage lender approves you for a 30-year fixed rate loan at a quoted interest rate of 7.75% that will be repaid monthly over the life of the loan.
Complete the full amortization table with the following 5 columns: beginning period balance, monthly payment, interest paid, principal paid, and ending period balance. Assume no additional payments will be towards the principal balance.
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