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(e) exact amount of the final payment. 16. You get a 20 -year $600,000 mortgage loan at 7.5% interest. Use your financial calculator to determine
(e) exact amount of the final payment. 16. You get a 20 -year $600,000 mortgage loan at 7.5% interest. Use your financial calculator to determine your monthly payment. Then, assuming your first payment is due March 1, find interest, principal, and remaining balance for each of the first 3 calendar-years. For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest. 17. Calculate the monthly payment (PI). Pmt 1, Princ Pmt 1, Bal Bal, Pmt 7 Int all 25Y Final Pmt 16) Yr1Int 18. Based on making 360 payments of $613.96, what is the total interest over the 30 years? 19. Use your amortization registers to calculate (a) interest for the entire 30 years and (b) balance
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