U$7$A$4$ Reading, Understanding, and Creating

Amortization Tables

Before you upload your file, ensure your name

appears on the top of every page of your document

and that all calculations have been double checked.

Sarah and Elias purchase their first house. The

selling price is $$150000$ and they make a $$10000$

down payment. Their bank offers them a rate of

$5\mathrm{.}8\frac{\%}{a}$ compounded monthly and their monthly

payments will be $$1100.$ Build an amortization table

to show their first five months of payments.