The second month of the constant amortization loan

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Reference no: EM131341814

What is the first month’s interest expense for a 30 year, 4% fixed rate, constant payment loan with an initial contract principal of $200,000?

What is it if it is a constant amortization loan?

What is the principal paid down in the first month of the constant amortization loan?

What is it for the second month of the constant amortization loan?

If the constant payment is $955.00, what is the principal portion of the first month’s payment?

Reference no: EM131341814

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