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Consider a $225,000, 6 percent, 30-year, constant amortization mortgage (CAM) with monthly payments. What is the total payment that will be due on this mortgage

Consider a $225,000, 6 percent, 30-year, constant amortization mortgage (CAM) with monthly payments.

What is the total payment that will be due on this mortgage in the first month? How much of this payment will be attributable to principal? How much to interest?

How large will the payment on this mortgage be in the 30^th month? How much of this will be attributable to principal? How much to interest?

What will be the principal balance outstanding on this mortgage at the end of the sixth year?

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