Sales price of property$-1,970,000$

Down payment required$($list$\%)-20\%$

Number of points at closing $-2$ points

Mortage time frame for loan $-35$ years

Intrest rate $($list$\%)-7\%$

Annual insurance amount$-$$$2500$

Annual property taxes amount$-$$$1900$

Calculations $-$ make sure to round all values on this journal to the nearest cent $($two decimal places$)$ show work

A$.$ Sale price of property$-1,970,000$

B$.$ Find the required down payment

c$.$ Find the amount of the mortage

D$.$ How much must be paid for points at closing

E$.$ Find the monthly payment $($excluding property taxes and insurance$)$

F$.$ Find the total interest paid over the timeframe of the loan

Next $-$ prepare a loan amortization schedule for the first three months of the mortage. Show work for calulations below. Round values to two decimal places $.$ Make a table plus show work after making the table for each work payment.

$1.$ monthly payments, interest payments, principal payments, and balance of loan.

$2.$ Monthly payments $,$ interest payments, principal payments, and balance of loan

$3.$ Monthly payments, intesrest payments, principal payments, and balance of loan

Final$-$ A$.$ How much is the annual insurance amount

Divide the amount by $12$ to determine the monthly insurance payment

B$.$ How much is the annual property taxes

Divide the amount by $12$ to determine how much you will pay into escrow for property taxes

C$.$ Add the monthly insurance payment and monthly escrow tax payment to your monthly mortage payment

what is the actual monthly payment

D$.$ Descibe what happens to the portion of payments going to principal and interest over the life of a mortage

E$.$ Describe what would happen to the monthly payment and total interest if the mortage time frame was cut in half