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Please help complete the table in the same format. Thank you for your help. Michael Sanchez purchased a condominium for $83,000. He made a 20%
Please help complete the table in the same format. Thank you for your help.
Michael Sanchez purchased a condominium for $83,000. He made a 20% down payment and financed the balance with a 30 year, 5% xed-rate mortgage. (Round your answers to the nearest cent. Use this table, if necessary.) (a) What is the amount (in $) of the monthly principal and interest portion, PI, of Michael's loan? 1i:1 (b) Construct an amortization schedule for the first four months of Michael's mortgage. 1 $i i $i i $i i $i i 2 $i $i $i $i 3 N i $i i $i i $i i 4 $i i $i i $i i $i i (c) If the annual property taxes are $1,640 and the hazard insurance premium is $730 per year, what is the total monthly PITI of Michael's loan (in $)? $:iStep by Step Solution
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