You have decided to use a 20 year amortization for you mortgage. Use this information to fin the monthly mortgage payment using the mortgage amount from previous section and a rate of 3.75%. You must also determine the amount of Interest, principal and balance owing for the mortgage after 2 years and 7 months. Input all the TVM variables and answers into the field below.<\/p>
<\/p>
Mortgage Amount = 412088.4 <\/p>
<\/p>
Amortization = 20 years <\/p>
<\/p>
P\/Y = <\/p>
<\/p>
C\/Y =<\/p>
<\/p>
Number of Periods=<\/p>
<\/p>
Mortgage Rates = 3.75<\/p>
<\/p>
Present value of loan= $412088.4<\/p>
<\/p>
Monthly payments =<\/p>
<\/p>
Value at the end of the loan=<\/p>
<\/p>
p1 months=<\/p>
<\/p>
p2 months=<\/p>
<\/p>
balance owing=<\/p>
<\/p>
principal paid=<\/p>
<\/p>
interest paid= <\/p>", "transcribed_text": "", "related_book": { "title": "Essentials Of Forensic Accounting", "isbn": "1948306441, 978-1948306447", "edition": "2nd Edition", "authors": "Michael A Crain, William S Hopwood", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2021\/11\/6180cb73a5085_6436180cb7324789.jpg", "uri": "\/textbooks\/essentials-of-forensic-accounting-2nd-edition-9-78e-12", "see_more_uri": "" }, "free_related_book": { "isbn": "0817633308", "uri": "\/textbooks\/proceedings-of-the-fifth-international-congress-on-mathematical-education-1st-edition-978-0817633301-350072", "name": "Proceedings Of The Fifth International Congress On Mathematical Education", "edition": "1st Edition" }, "question_posted": "2024-06-06 14:03:03", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/hale-nelson-cpa-is-engaged-to-audit-the-financial-statements", "description": "Hale Nelson, CPA, is engaged to audit the financial statements of Hollis Manufacturing, Inc. 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