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Prepare an amortization schedule (monthly) for a 30yr mortgage on a building that costs $280,000. 20%...

Prepare an amortization schedule (monthly) for a 30yr mortgage on a building that costs $280,000. 20% down was required to get at an APR of 5%, the rest of the cost was financed. Compare the principle balance and the interest in the first, second, fifth, tenth, twentieth, and thirtieth year.

Now prepare an amortization schedule for a 20yr mortgage on the same building. Compare the principle balance and interest in the same years as you did in the 30yr mortgage.

Expert Solution

jeff jeffy answered 2 years ago

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