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Task # 7 ( Mortgage ) . In the mortgage example, given in class ( Unit 3 , slides 5 7 - 5 9 )
Task #Mortgage In the mortgage example, given in class Unit slides we calculated the monthly payment. You might be interested which part of this payment is interest and which part is repayment of the debt. Use a spreadsheet to calculate the interest payment, repayment of principal and the loan balance for every month. Draw a graph that shows nicely how the share of interest decreases over time while the share of repayment increases.
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