Use PMT= PA to determine the regular payment amount, rounded to the nearest cent. The cost of a -nt7 [₁-(₁ + - home is financed with a $130,000 30-year fixed-rate mortgage at 3%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. L b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number 1 Interest C S $ $ 2 $ S $ $ S 3 (Use the answer from part a to find these answers. Round to the nearest cent as needed.) a ..…. Principal $ Loan Balance **
Use PMT= PA to determine the regular payment amount, rounded to the nearest cent. The cost of a -nt7 [₁-(₁ + - home is financed with a $130,000 30-year fixed-rate mortgage at 3%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. L b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number 1 Interest C S $ $ 2 $ S $ $ S 3 (Use the answer from part a to find these answers. Round to the nearest cent as needed.) a ..…. Principal $ Loan Balance **
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
12. Answers both questions
Transcribed Image Text:Use PMT=
PA
(9)
[1-(₁+
-nt
home is financed with a $130,000 30-year fixed-rate mortgage at 3%.
a. Find the monthly payments and the total interest for the loan.
b. Prepare a loan amortization schedule for the first three months of the mortgage.
2
to determine the regular payment amount, rounded to the nearest cent. The cost of a
b. Fill out the loan amortization schedule for the first three months of the mortgage below.
Payment
Number
1
L
Interest
C
S
$
$
$
$
3
S
$
$
(Use the answer from part a to find these answers. Round to the nearest cent as needed.)
a
.…….
Principal
$
Loan Balance
Transcribed Image Text:←
PA)
[₁-(₁+)
home is financed with a $130,000 30-year fixed-rate mortgage at 3%.
Use PMT=
to determine the regular payment amount, rounded to the nearest cent. The cost of a
- nt
a. Find the monthly payments and the total interest for the loan.
b. Prepare a loan amortization schedule for the first three months of the mortgage.
a. The monthly payment is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)
The total interest for the loan is $
(Use the answer from part a to find this answer. Round to the nearest cent as needed.)
b. Fill out the loan amortization schedule for the first three months of the mortgage below.
Payment
Number
Principal
Loan Balance
Interest
LDC
a
HW
W
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