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Bob Jones bought a new home for $150,000.00 at a rate of 8% interest for 30 years. He made a 20% downpayment on the home.
Bob Jones bought a new home for $150,000.00 at a rate of 8% interest for 30 years. He made a 20% downpayment on the home. Prepare an amortization schedule for the first three periods assuming the 20% downpayment and use a Rate per $1,000 of 7.34 (from the amortization table). For each of the three payments, state the 1.) Beginning of the Month Balance, 2.) Interest paid, 3.) Principle paid, and 4.) End of the Month Balance
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