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Suppose you sign a Mortgage credit for 5 000 000 dollars to buy a new house to be amortized over 15 years subject to 22.4%
Suppose you sign a Mortgage credit for 5 000 000 dollars to buy a new house to be amortized over 15 years subject to 22.4% interest compounded monthly. The loan is to be paid back by making monthly payments. Fill in the empty boxes of the amortization schedule of this loan:
Payment number | payment | interest | Unpaid balance reduction | Unpaid balance |
0 | - | - | - | 5 000 000 |
1 |
|
|
|
|
--- | --- | |||
100 |
|
|
|
|
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