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You are working on your income taxes and want to figure your mortgage interest deduction for the previous year. Unfortunately someone inadvertently ran your mortgage
You are working on your income taxes and want to figure your mortgage interest deduction for the previous year. Unfortunately someone inadvertently ran your mortgage documents through a shredder. You were able to discover fragments of the amortization schedule that showed elements from a row from that schedule: 9. Payment # 120 Amount $1,932.90 Interest Principal Balance 1,149.2 $229,055.94 a. Determine the APR of this mortgage (two three decimal places) b. Determine the original amount of the mortgage; c. Determine the original term (length) of the mortgage; d. Complete the following row of the mortgage's amortization schedule: Payment # Amount Interest Principal Balance 220
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