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Question You buy a house for $275,000. You pay $35,000 down and take out a mortgage at 3.15% compounded monthly on the balance for 30
Question You buy a house for $275,000. You pay $35,000 down and take out a mortgage at 3.15% compounded monthly on the balance for 30 years. 1. Find your monthly payment. 2. Find the total amount of interest you will pay over 30 years. 3. Create the amortization table on the excel 4. On the table your last payment can be dierent then the others. You can adjust the amount of the nal payment and make the nal balance zero. 5. Now, calculate the total interest on the amortization table by adding all values in column of interest
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