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You wish to buy a $500,000 house, using a 20-year mortgage and putting 20% as a cash down payment. The current interest rate is 4.25%
You wish to buy a $500,000 house, using a 20-year mortgage and putting 20% as a cash down payment. The current interest rate is 4.25% compounded monthly. Set up a loan table. What is your monthly payment? For each month, what portion of that payment goes to principal and what goes to paying interest? make a mortgage amortization table to show your solution. please use excel
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