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Mortgage Amortization Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about
Mortgage Amortization Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): 1. What is your monthly payment? 2. What is the total $ amount of payments made over the life of the loan 3. How many months will it take to pay off the loan if you pay an extra $190.84 per month?
Loan Input Data | Amount |
| 1 | ||||||
Principal Amount | $510,000.00 | 2 | |||||||
Annual Interest Rate | 3.50% | 3 | |||||||
Periods Per Year | 12 | 4 | |||||||
Total Number of Payments | 360 | 5 | |||||||
Percentage Rate Per Period | 6 | ||||||||
Extra Payment per month | $190.84 | 7 | |||||||
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Mortgage Score | 11 | ||||||||
Total Score | 0.00 | 12 | |||||||
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Note: Enter the month when the whole principal is paid off. Also, remember to show the amortization table for the original payment before you submit.
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