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You have obtained a mortgage for $100,000 with annual interest rate of 6% that is to be paid over 30 years (interest is compounded monthly).
You have obtained a mortgage for $100,000 with annual interest rate of 6% that is to be paid over 30 years (interest is compounded monthly). Your monthly payment is $600.
Complete the first few rows of the loan amortization table (show how you got the number):
Months | Loan balance | Loan payment | Interest | Principal |
1
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2
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3
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