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David and Debi Davidson have just signed a 15-year, 4% fixed rate mortgage for $360,000 to buy their house. Find out this couple's monthly mortgage
David and Debi Davidson have just signed a 15-year, 4% fixed rate mortgage for $360,000 to buy their house. Find out this couple's monthly mortgage payment by preparing a loan amortization schedule for the Davidson's for th- first 2 months; find out how much of their payments applied to interest; and after 2 payments, how much of their principal will be reduced. (Please construct a loan amortization schedule and show your calculations)
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