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Sally and Fred have just purchased their dream condo. They have financed the purchase it a with a loan of $195,000 The Loan term is

Sally and Fred have just purchased their dream condo. They have financed the purchase it a with a loan of $195,000 The Loan term is 10 years with a 6% stated annual interest rate (0.50% monthly)

a) Show an amortization table for the loan

b) What is the interest paid on month 15?

c) 4 years after taking the loan, they want to repay it. What is the outstanding balance?

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