Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare the first 5 months of an amortization schedule with a 30-year mortgage monthly payment, Property is selling for $489,000, 15% down payment, 6.625% fixed

Prepare the first 5 months of an amortization schedule with a 30-year mortgage monthly payment, Property is selling for $489,000, 15% down payment, 6.625% fixed interest rate, estimated property taxes $6,816, insurance is $1350 a year. What is the monthly payment, interest portion, principal portion, and end of month principal for the first 5 months. What would the monthly mortgage payment be (Principal and Interest only) if the listing price is 199,900.00, with 20% down, term of loan 15 years, 5.875 interest rate

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Finance Transactions Policy And Regulation

Authors: Hal S. Scott

15th Edition

159941547X, 978-1599415475

More Books

Students also viewed these Finance questions

Question

What are copyrights and how are they used?

Answered: 1 week ago