A house sells for $560,000 and a 9% down payment is made. A mortgage is secured at 6% for 25 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $509,600 and the monthly payment is $3,281.82. What is the Interest?What is the Payment on Principal?What is the Balance of Loan?

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A house sells for $560,000 and a 9% down payment is made. A mortgage is secured at 6% for 25 years.

A house sells for $560,000 and a 9% down payment is made. A mortgage is secured at 6% for 25 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary.

The value of the mortgage is $509,600 and the monthly payment is $3,281.82.

What is the Interest?

What is the Payment on Principal?

What is the Balance of Loan?

Expert Solution

ekkarill92 answered 2 years ago

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