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a. Now, create an amortization schedule and bar graph for a $215 000 mortgage being paid back in end-of-the-month installments amortized over 20 years with

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a. Now, create an amortization schedule and bar graph for a $215 000 mortgage being paid back in end-of-the-month installments amortized over 20 years with interest at 3.75% compounded monthly. (10 marks) b. How much more are the monthly payments than with a 25 year amortization? (1 mark) c. When does the monthly payment start paying more toward the principal than it does toward the interest? (1 mark) d. How much interest is paid in total? (1 mark) e. How does the total interest paid compare to the 25 year amortization? (1 mark) a. Now, create an amortization schedule and bar graph for a $215 000 mortgage being paid back in end-of-the-month installments amortized over 20 years with interest at 3.75% compounded monthly. (10 marks) b. How much more are the monthly payments than with a 25 year amortization? (1 mark) c. When does the monthly payment start paying more toward the principal than it does toward the interest? (1 mark) d. How much interest is paid in total? (1 mark) e. How does the total interest paid compare to the 25 year amortization? (1 mark)

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