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

Consider a $225,000, 6 percent, 30-year, constant payment mortgage (CPM) 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?

If the first payment of this loan will be on September 1^st, how much total interest will be paid during the first year of this loan? How much total interest will be paid during the second year?

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