Complete the amortization table for the first two payments

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Reference no: EM131070786

Miss Crystal Palace just purchased – you guessed it – a crystal palace for $650,000. She makes a 25% down payment and finances the balance with a mortgage at an interest rate of 5.6% for 15 years, making monthly payments. Round all answers to nearest cents.

a. What amount will she borrow?

b. Complete the amortization table for the first two payments. Show all work?

Reference no: EM131070786

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