What effect does the prepayment have on total interest

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Reference no: EM131329357

Go to the home page of the Bankrate.com (https://www.bankrate.com) and obtain current average mortgage rates. With this information, go to Hugh Chou's mortgage calculator (https://www.hughchou.org).

Provide the requested variables to create an amortization schedule.

Re-create the schedule with different prepayment amounts. What effect does the prepayment have on total interest and the term of the loan?

Reference no: EM131329357

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