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Question 2 : Prepare and paste a mortgage amortization schedule based on the following terms. Amount: $950,000 Rate: 10 Year Treasury plus 300 basis points

Question 2: Prepare and paste a mortgage amortization schedule based on the following terms.

Amount: $950,000

Rate: 10 Year Treasury plus 300 basis points

Term: 10 Years

Amortization: 30 Years

Payment: Annually

2.1 What is the annual payment?

2.2 What is the payment constant?

2.3 What is the mortgage balance at the end of year 10?

2.3 For the first payment, how much is Interest?

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