The loan is for $150,000 with a rate of 6% for 30 years payable monthly. Calculate...

The loan is for $150,000 with a rate of 6% for 30 years payable monthly.

Calculate the Monthly Payment (MP):
Do a monthly Amortization Table for 4 months using the MP:
Calculate the Loan Balance (LB) using the formula approach at the end of 4 months.

Expert Solution

jeff jeffy answered 2 years ago

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