Pls help on this question. Pls show all steps and complete all parts pls I beg pls pls pls pls pls pls i beg. 1. The Zaidis arrange a mortgage amortized over 30 years at 9% per year compounded semi-annually.Here is part of an amortization table for the mortgage.PaymentMonthlyInterestPrincipalOutstandingNumberPaymentPaidPaidBalance$80,000.0079,954.7879,909.231634.27589.05a) How much did the Zaidis borrow?b) How much of the 1st payment is principal? How much is interest?c) Complete the row for payment 2. Explain why the interest pavments decrease eachmonth while the principal payments increase each month.d) How much interest will the Zaidis pay over the life of the mortgage?

(a.)..... Zaidis Borrowed $80,000 (b.)....... Here the Interest is compounded semiannually and the…

Answered: ent Monthly Interest er Payment Paid

Business

Accounting

ent Monthly Interest er Payment Paid

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Pls help on this question. Pls show all steps and complete all parts pls I beg pls pls pls pls pls pls i beg.

1. The Zaidis arrange a mortgage amortized over 30 years at 9% per year compounded semi-annually.
Here is part of an amortization table for the mortgage.
Payment
Monthly
Interest
Principal
Outstanding
Number
Payment
Paid
Paid
Balance
$80,000.00
79,954.78
79,909.23
1
634.27
589.05
a) How much did the Zaidis borrow?
b) How much of the 1st payment is principal? How much is interest?
c) Complete the row for payment 2. Explain why the interest pavments decrease each
month while the principal payments increase each month.
d) How much interest will the Zaidis pay over the life of the mortgage?

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