You are considering a loan with an annual rate of 8%. The mortgage is $130,000 with 180 monthly payments of $1242.35 for 15 years. .... Complete the first two months of the amortization table. (Simplify your answers. Round to the nearest cent as needed.) Payment number Interest payment Principal payment Balance of loan 1

You are considering a loan with an annual rate of 8%. The mortgage is $130,000 with 180 monthly payments of $1242.35 for 15 years. .... Complete the first two months of the amortization table. (Simplify your answers. Round to the nearest cent as needed.) Payment number Interest payment Principal payment Balance of loan 1

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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