Complete the first month of amortization schedule for a fixed-rate mortgage. Mortgage - $118,000 Interest Rate - 9.0% Term of Loan - 15 years a) Total Payment? b) Total Interest? c) Principal Payment?  d) Balance of Principal?

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Complete the first month of amortization schedule for a fixed-rate mortgage.

Mortgage - $118,000

Interest Rate - 9.0%

Term of Loan - 15 years

a) Total Payment?

b) Total Interest?

c) Principal Payment? 

d) Balance of Principal?

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