Please show all work, thanks. Prepare an amortization schedule for the mortgage of a house of 500,000 with 20% down payment.Interest rate is 5% compounded semiannually. The payments are done on monthly-basis for 2 years(A)(B)= Find PMT(C)' = Previous (E) x i(D)= (B) - (C)PrincipalRepaid(E)= previous (E) – (D)OutstandingPrincipalInterestPaymentnumberAmountpaidPaidi=Balance1234679101112131415161718192021222324ТОTALSPVNI/YCPT PMT

Amortization Schedule: The amortization schedule is a table containing periodic payments and…

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Prepare an amortization schedule for the mortgage of a house of 500,000 with 20% down payment. Interest rate is 5% compounded semiannually. The payments are done on monthly-basis for 2 years

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1EB: Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the...

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Question

Please show all work, thanks.

Prepare an amortization schedule for the mortgage of a house of 500,000 with 20% down payment.
Interest rate is 5% compounded semiannually. The payments are done on monthly-basis for 2 years
(A)
(B)
= Find PMT
(C)
' = Previous (E) x i
(D)
= (B) - (C)
Principal
Repaid
(E)
= previous (E) – (D)
Outstanding
Principal
Interest
Payment
number
Amount
paid
Paid
i=
Balance
1
2
3
4
6
7
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
ТОTALS
PV
N
I/Y
CPT PMT

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