Construct the amortization schedule for first six payments

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Reference no: EM131973763

You plan to purchase a $210,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 7.25 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))

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))

Reference no: EM131973763

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