What is the balance of the principal

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Complete the first two months .of an amortization schedule for a fixed-rate mortgage.

Complete the first two payments of the amortization schedule below.

(Do not round until the final answer. Then round to the nearest cent as needed)

Mortgage is $600,000.00

Interest Rate is 5.75%

Term of the loan is 13 years

Question 1: What is the Total Payment?

Question 2: What is the Interest Payment?

Question 3: What is the Principal Payment?

Question 4: What is the Balance of the Principal?

Reference no: EM132490375

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