Loan Amortization Problem Type your full name in the following order First Middle Last Number of letters in full name = Now assume that your annual salary = number of letters in your full name x $45,000 and that the bank you want to borrow from, has determined that it will lend you, loan amount= your annual salary x 2.5 interest rate = number of letters in your full name x 0.9% Assume that you will borrow for 15 years and you will make monthly payments at the end of each month. A) Calculate your monthly payment (Type your calculator inputs, i.e. N=, PV= and so on) B) Calculate the total interest amount you will pay over the life of the loan . c) if you had 10% of amount you could borrow in your savings and you could use it as a down payment ( you borrow anly 90% of the original amaount) how much lower would you have been the total intrest you would have paid over the life of the loan( compared to what you found in b )assume all other terms of the loan remain the same D) fill in the missing values in tha amortrization table below based on your payment found in C . accurancy should be six decimels

month beggining payment payment intrest payment ending balance 1 2 3 4 5

intrest payment= monthly intrest rate * begginning balance pronciple payment= payment - intrest paymemnt ending balance= neginning balance - principle payment beginning balance for period 1 is the amount borrowed , for all other period it is the ending balance of the previos period

my name rayan ibrahim alalol