Compute an amortization schedule for the first six months

Reference no: EM133432483

Question: Suppose that a 15 year mortgage loan for $200,000 is obtained. The mortgage is level-payment, fixed-rate, fully amortized mortgage. The mortgage rate is 7.0% and the monthly mortgage payment is $1,797.66.o

1. Compute an amortization schedule for the first six months.

2. What will the mortgage balance be at the end of the 15th year?

3. If an investor purchased this mortgage, what will the timing of the cash flow be assuming that the borrower does not default?

Reference no: EM133432483

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