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Problem 1 Suppose you assume a $203,000 mortgage with a 3.4% APR, with monthly payments over 30 years. 1. Determine the monthly payment for this
Problem 1 Suppose you assume a $203,000 mortgage with a 3.4% APR, with monthly payments over 30 years. 1. Determine the monthly payment for this loan. 2. How much total interest will you pay over the life of this loan? 3. Complete the first 3 months of an amortization table for this loan. Include pay- ment number, amount applied to interest, amount applied to principal, balance, and equity (%) as columns in your table
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