Mary wants to buy a house. The house costs $750,000. She will make a 20% down payment. She will have a 30-yearmortgage at an interest
Mary wants to buy a house. The house costs $750,000. She will make a 20% down payment. She will have a 30-yearmortgage at an interest rate of 4.5%.
a) Make an amortization schedule for the first 6periods(not years) of her loan(Beginningbalance, payment, principal & interest portions, ending balance, etc).
b) Assuming she follows her amortization schedule, what will be the totalinterest she will pay for her home after30 years?
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Authors: William Brueggeman, Jeffrey Fisher
17th Edition
1264072945, 978-1264072941
