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You are interested in purchasing your first home. Assume the purchase price is $150,000 and that you are able to finance (borrow) 96.5% of the

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You are interested in purchasing your first home. Assume the purchase price is $150,000 and that you are able to finance (borrow) 96.5% of the purchase price over 30 yrs at 5%. Complete an amortization table and answer the following three questions (Do not enter commas and round to cents) 1) What is the total amount paid in interest in year 4 ? 2) What is the total amount that the bank will profit in this transaction(interest = profit ) ? 3) What is the total amount paid in principal in year 15? You are interested in purchasing your first home. Assume the purchase price is $150,000 and that you are able to finance (borrow) 96.5% of the purchase price over 30 yrs at 5%. Complete an amortization table and answer the following three questions (Do not enter commas and round to cents) 1) What is the total amount paid in interest in year 4 ? 2) What is the total amount that the bank will profit in this transaction(interest = profit ) ? 3) What is the total amount paid in principal in year 15

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