Question
Suppose you need to borrow a mortgage of 80% of the sale price. Go to different bank websites to find a fixed rate loan option.
Suppose you need to borrow a mortgage of 80% of the sale price. Go to different bank websites to find a fixed rate loan option. Calculate your loan amortization table for first 12 months (Chapter 4), such as the following:
Property Purchased at $750,000
Interest Rate 4.25%
| Month | Beg. Loan Balance | Monthly Payment | Interest | Amortization | Ending Loan Balance |
| 1 | $750,500 | ||||
| 2 | |||||
| 3 | |||||
| 4 |
If you only have the property for 5 years, what will be your mortgage outstanding balance?
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Creating Financial Value A Guide For Senior Executives With No Finance Background
Authors: Malcolm Allitt
1st Edition
1472922719, 978-1472922717
