Prepare an amortization table for the first five months

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Question 1: You have secured a mortgage to buy a house. You are borrowing $120,000 in a conventional, 30-year mortgage. Interest on the loan is 6.25%, payable monthly at the end of the month. Provide an amortization table for the first five months of the loan. Be sure to provide the ending balance at the end of the fifth month.

Reference no: EM132492433

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