Question
Show an amortization table representing the following situation. You are buying a house. The sale price is $150,000, and you have a downpayment of $30,000,
Show an amortization table representing the following situation. You are buying a house. The sale price is $150,000, and you have a downpayment of $30,000, which means you are taking out a mortgage for the remaining amount of $120,000. You have been approved for a 30-year loan at an annual rate of 3.72%, with monthly payments.Using your amortization table, after how many months do you begin paying more towards principal than towards interest?
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Fundamentals of Corporate Finance
Authors: Berk, DeMarzo, Harford
2nd edition
132148234, 978-0132148238
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