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How much will the total principal and interest be over the life of the loan? b. How much interest can Wedgewood save if it pays
How much will the total principal and interest be over the life of the loan? b. How much interest can Wedgewood save if it pays the proposed additional payment per month? HINT: Add the proposed additional payment to the required mortgage payment each month. LOAN AMORTIZATION SCHEDULE ENTER VALUES LOAN SUMMARY Loan amount $3,720,000 Required Monthly Payment $20,677 Annual interest rate 4.5% Scheduled number of payments 300 Loan period in years 25 Number of payments per year 12 Proposed Additional Payment $300 Start date of loan 2/28/2024
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To calculate the total principal and interest over the life of the loan we can use the loan amortization schedule Given the loan details provided Loan ...
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
