Question
A 20-year mortgage has an annual interest rate of 4.3 percent and a loan amount of $190,000. ( Hint: Use the IPMT and PPMT functions
A 20-year mortgage has an annual interest rate of 4.3 percent and a loan amount of $190,000. (Hint: Use the "IPMT" and "PPMT" functions in Excel.) What are the interest and principal for the 72th payment?
Note: Round your answers to 2 decimal places.
Interest:
Principal:
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Principles Of Managerial Finance
Authors: Chad Zutter, Scott Smart
16th Global Edition
1292400641, 978-1292400648
