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A) Helena purchases a condo and obtains a $250000 fully amortizing level payment 15 year mortgage bearing an (annual) interest rate of 6.75%. How much
A) Helena purchases a condo and obtains a $250000 fully amortizing level payment 15 year mortgage bearing an (annual) interest rate of 6.75%. How much will her monthly blended principal and interest payment be?
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7 b) for months 1,2 and 3 of the mortgage, determine how much of the total payment is principal and how much is interest and construct an amortization table
Month | Begining principal | payment | interest | amortization of principal | ending principal |
1 | |||||
2 | |||||
3 |
Please explain how do you get the numbers. I'm looking for how to do it. I already have the correct answers but not clear how to get there.
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