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You borrow $300,000 to buy a house over a 30-year term. The loan is structured as an amortized loan with annual payments and an interest
You borrow $300,000 to buy a house over a 30-year term. The loan is structured as an amortized loan with annual payments and an interest rate of 10%. Complete the cells in the amortization schedule, below.
Year | Payment ($) | Interest in Payment ($) | Principal Repaid ($) | Principal Owing at End of Year ($) |
1 | ||||
2 |
Year | Payment ($) | Interest in Payment ($) | Principal Repaid ($) | Principal Owing at End of Year ($) | |
1 | 2 | 3 | 4 | 5 |
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