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Use the following information to answer the questions related to a fixed rate mortgage. Loan Amount (choose a loan amount between $l50000 and $300.00) interest
Use the following information to answer the questions related to a fixed rate mortgage. Loan Amount (choose a loan amount between $l50000 and $300.00) interest Rate (choose either 45% or 5.5%): Term (choose either 15 year or 30 year fixed rate): a) Complete the first 2 rows of the amortization table below (Show work inside of table for each part.) b) The bank estimates the annual taxes to be $3, 875 and the annual insurance to be $2.650. Calculate the total monthly mortgage payment (including escrow costs). c) How much interest will be paid over the life of the loan if all payments are made on time
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