Prepare the first 5 months of an amortization schedule with a 30-year mortgage monthly payment, Property is selling for $489,000, 15% down payment, 6.625% fixed interest rate, estimated property taxes $6,816, insurance is $1350 a year. What is the monthly payment, interest portion, principal portion, and end of month principal for the first 5 months.

Prepare the first 5 months of an amortization schedule with a 30-year mortgage monthly payment, Property is selling for $489,000, 15% down payment, 6.625% fixed interest rate, estimated property taxes $6,816, insurance is $1350 a year. What is the monthly payment, interest portion, principal portion, and end of month principal for the first 5 months.

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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