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You borrow $273,000 to be repaid in monthly installments over the next 25 years. The first payment occurs one month from today. If the annualized
You borrow $273,000 to be repaid in monthly installments over the next 25 years. The first payment occurs one month from today. If the annualized interest rate for the loan is3.1%, how much principal is amortized in payment #32? [Hint: You don't need to construct an amortization schedule. You just need the beginning balance associated with payment #32.] Don't round intermediate calculations. Enter your answer as a positive number, and round to the nearest penny.
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