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30 yr 7% $350000 purchase 375K Balance Sheet as of 12/31/20X2 Current Liabilities Residence - $4,088 Long-Term Liabilities Residence - $338,544 Calculation: PV 350,000 N

30 yr 7% $350000 purchase 375K

Balance Sheet as of 12/31/20X2

Current Liabilities

Residence - $4,088

Long-Term Liabilities

Residence - $338,544

Calculation: PV 350,000 N 360 i 7%/12 FV 0 PMT =2,2328.56 12/31/20X2 Principal Balance $342,632

How did we get principal balance, current liabilities and long-term liabilities?

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