Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at an annual interest rate of 4.24%. (a) In which month
Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at an annual interest rate of 4.24%.
(a)
In which month does the amount of principal in a monthly payment first exceed the amount of interest?
(b)
How much interest is repaid for the term of the loan? (Round your answer to the nearest cent.)
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Authors: Steve Preda
1st Edition
0998447846, 978-0998447841
