Construct the amortization schedule for first six payments

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Reference no: EM131495570

You plan to purchase a $270,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6.75 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) Monthly payment $ b. Construct the amortization schedule for the first six payments. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Amortization Schedule for first 6 payments (months) Month Beginning Loan Balance Payment Interest Principal Ending Loan Balance 1 $ $ $ $ $ 2 3 4 5 6

Reference no: EM131495570

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