Answered step by step
Verified Expert Solution
Question
1 Approved Answer
need help please !!! A $38,000 mortgage taken out on June 1 is to be repaid by monthly payments rounded up to the nearest $10.
need help please !!!
A $38,000 mortgage taken out on June 1 is to be repaid by monthly payments rounded up to the nearest $10. The payments are due on the first day of each month starting July 1. The amortization period is 10 years and interest is 5.4% compounded semi-annually for a six-month term. Construct an amortization schedule for the se-month term What is the monthly payment rounded up to the nearest 5107 Payments Complete the amorization schedule. (Round to the nearest cant as needed.) Payment Number Amount Paid Interest Paid Principal Repaid June 1 Outstanding Principal Balance $38,000 July 1 Aug 1 Sept 1 Oct 1 Nov 1 Dec 1 DE Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started