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Telegraph Hill House SHOW WORKINGS ON EXCEL Dan bought a house in Telegraph Hill for $1,500,000. The annual interest rate is 5%. Mortgage payments will
Telegraph Hill House | ||||||||
SHOW WORKINGS ON EXCEL | ||||||||
Dan bought a house in Telegraph Hill for $1,500,000. The annual interest rate is 5%. | ||||||||
Mortgage payments will be monthly. This is a 15 year mortgage. | ||||||||
Dan put a 30% downpayment on the house. | ||||||||
How much will Dan's monthly mortgage payment be? What will be the principal remaining for the second month? | ||||||||
Extra credit: complete the mortgage amortization schedule for all 180 months. |
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