Question
Suppose you have taken out a $175,000 fully amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of
Suppose you have taken out a $175,000 fully amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 5.25%. After your first mortgage payment, how much of the original loan balance is remaining?
Can you teach me how to do it on excel, please? I am confused on how to make it monthly compounding.
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Analysis For Financial Management
Authors: Robert C. Higgins
10th International Edition
007108648X, 9780071086486
