Consider this amortization table for the first six months of a $195 000 mortgage amortized over 15 years. Month Principal Paid ($) Interest Paid ($) 1 594.87 1200.13 2 598.53 1196.47 3 602.21 1192.79 4 605.93 1189.08 5 609.64 1185.35 6 613.41 1181.60 Calculate the total amount paid in the first six months.
Consider this amortization table for the first six months of a $195 000 mortgage amortized over 15 years. Month Principal Paid ($) Interest Paid ($) 1 594.87 1200.13 2 598.53 1196.47 3 602.21 1192.79 4 605.93 1189.08 5 609.64 1185.35 6 613.41 1181.60 Calculate the total amount paid in the first six months.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
Consider this amortization table for the first six months of a $195 000
mortgage amortized over 15 years.
|
Month
|
Principal Paid ($)
|
Interest Paid ($)
|
|
1
|
594.87
|
1200.13
|
|
2
|
598.53
|
1196.47
|
|
3
|
602.21
|
1192.79
|
|
4
|
605.93
|
1189.08
|
|
5
|
609.64
|
1185.35
|
|
6
|
613.41
|
1181.60
|
Calculate the total amount paid in the first six months.
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