Make an amortization table to show the first two payments for the mortgage. Amount of mortgage $89,000 Annual interest rate Years in mortgage Monthly payment 5.50% Monthly payment $546.46 Month 1 2 $546.46 (Round to the nearest cent as needed.) Interest S 25 Principal $546.46 End-of-month principal
Make an amortization table to show the first two payments for the mortgage. Amount of mortgage $89,000 Annual interest rate Years in mortgage Monthly payment 5.50% Monthly payment $546.46 Month 1 2 $546.46 (Round to the nearest cent as needed.) Interest S 25 Principal $546.46 End-of-month principal
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Make an amortization table to show the first two payments for the mortgage.
Amount of
mortgage
$89,000
Month
Annual interest rate Years in mortgage Monthly payment
5.50%
Monthly
payment
$546.46
Interest
1
2
$546.46
(Round to the nearest cent as needed.)
25
Principal
$546.46
End-of-month
principal
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