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If you could provide formulas as well, i will upvote. Thanks! Buying a House You wish to buy a $520,000 house, using a 20-year mortgage
If you could provide formulas as well, i will upvote. Thanks!
Buying a House You wish to buy a $520,000 house, using a 20-year mortgage and putting 25% as a cash down payment. The current interest rate is 3.50% compounded monthly. Set up a loan table. What is your monthly payment? For each month, what portion of that payment goes to principal and what goes to paying Interest? Create a mortgage ammortization table to show your solution. Pay attention to formatting and do not hardcode numbers into your formulas. Principal Annual Rate Monthly Rate Term Periods Monthly Payment Month Beginning Principal Payment Interest Princp. Payment 25 Step by Step Solution
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