You borrow $400,000 to buy a house over a 25-year term. The loan is structured as an amortized loan with annual payments and an interest rate of 11%. Complete the cells in the amortization schedule, below.

Year Payment ($) Interest in Payment ($) Principal Repaid ($) Principal Owing at End of Year ($)

1

2 (Round to the nearest cent.)

What is the payment ($), Interest in Payment ($), Principal Repaid ($), & Principal Owing at End of Year ($) for Year 1 and Year 2

You borrow $400,000 to buy a house over a 25-year term. The loan is structured as an amortized loan with annual payments and an interest rate of 11% Complete the cells in the amortization schedule, below. Year Payment ($) Interest in Payment ($) Principal Repaid ($) Principal Owing at End of Year ($) Interest in Payment ($) Principal Repaid ($) Year 1 Payment ($) 47496.10 Principal Owing at End of Year ($) (Round to the nearest cent.) Interest in Payment ($) Principal Repaid ($) Year 1 Payment ($) 47,496.10 Principal Owing at End of Year ($) (Round to the nearest cent.)