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What are the monthly payments

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Reference no: EM132234718

1) Example: You have just negotiated a 5 year mortgage on $100,000 amortized over 30 years at a rate of 8%.

A) What are the monthly payments?

B) What are the principal and interest payments each month for the first 3 months of payments?

C) How much will be left at the end of the 5 year contract?

D) If the mortgage terms do not change over the entire amortization period, how much interest and principal reduction result from the 300th payment?

Reference no: EM132234718

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