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Please explain in detail how to solve mortgage schedule. Thank you! ! Question 1 of 6 A $330.000 house in Hamilton was purchased with a
Please explain in detail how to solve mortgage schedule.
Thank you! !
Question 1 of 6 A $330.000 house in Hamilton was purchased with a down payment of 20.00% of its value and a 25 year mortgage was taken for the balance. The negotiated fixed interest rate was 6.50% compounded semi-annually for a three-year term, with repayments made at the end of every month. a. Calculate the size of the monthly payments. $1.768.33 Round to the nearest cent b. Complete the partial mortgage schedule for the three-year term, rounding the answers to the nearest cent. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 $264,000.00 $1.768.33 $1.411.01 1 $ 357.32 $263.642 88 $1.768.33 $ 1.409 10 2 . S359 23 5283.283.44 $282.922 29 1.1.1 $1.768 33 30.00 $0.00 30.00 1.768 5140136 SO DO 30.00
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