Solution-Create a table showing the payment of a mortgage

Create a table showing the payment of a mortgage

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Reference no: EM131892172

Create a table showing the payment of a mortgage of $284,000 month by month. Create columns for: - Time (in years) - Interest (for that month) - Payment (always the same value) - Payment against principal - Remaining Principal The mortgage is to last 37 years, and the nominal interest rate is 9.08%

(a) What is the monthly payment?

(b) What is the interest paid at the end of the 9th month?

(d) The first time that the portion of a monthly payment that is paying down the principal will be larger than the portion paying interest will occur at the end of month number________?

Reference no: EM131892172

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Create a table showing the payment of a mortgage

Reference no: EM131892172

Reference no: EM131892172

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