Q2

Without constructing an amortization schedule, what is the mortgage balance at the end of month 120 assuming no prepayments?

NOTICE: For this problem, round everything (calculations and final answers) to 2 decimal places.

Q3

Without constructing an amortization schedule, what is the scheduled principal payment in month 120 assuming no prepayments?

NOTICE: For this problem, round everything (calculations and final answers) to 2 decimal places.

Question 1 5 pts Consider the following fixed-rate mortgage: Maturity = 360 months Amount borrowed = $300,000 Annual mortgage rate = 3.5% Construct the 2 months amortization schedule Month Beginning Balance Monthly Payment Interest Principle Repaymen Ending balance 1 2 NOTICE: For this problem, round everything (calculations and final answers) to 2 decimal places