Calculate the required monthly mortgage payment

Reference no: EM13265923

The sale price of the house is $436,000. With 20% down payments and borrow additional 80% from Wells Fargo with a 30-year, 4.375% fixed-rate mortgage loan. He is expected to pay an equal MONTHLY payment starting from April 2014 for a total of 30 years.

(1) Calculate the required monthly mortgage payment
(2) Construct the 2014~2018 amortization table

Reference no: EM13265923

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