Question
Please show the specific details ofcalculation Q1 Suppose you have a 30-years mortgage loan with an interest rate of 5% (monthly compounding rate) and monthly
Please show the specific details ofcalculation
Q1 Suppose you have a 30-years mortgage loan with an interest rate of 5% (monthly compounding rate) and monthly mortgage payments of $2,000. Please use a table to decompose your monthly payments in the first and tenth year into interest payments and principal payments
Q3 Suppose you have received a $50,000 bank loan with a interest rate of 10% and a time to maturity of 5 years. Suppose the loans is amortized by making equal annual payment. What is the interest paid and the principle paid by the end of the third year, respectively?
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