Make an amortization table to show the first two payments for the mortgage.   Amount of mortgage Annual interest rate Years in mortgage Monthly payment ​$407,550 5.25​% 35 ​$2122.29   Month Monthly payment Interest Principal ​End-of-month principal 1 ​$2122.29 ​$enter your response here ​$enter your response here ​$enter your response here 2 ​$2122.29 ​$enter your response here ​$enter your response here ​$enter your response here

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 5FPE
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Make an amortization table to show the first two payments for the mortgage.
 
Amount of mortgage
Annual interest rate
Years in mortgage
Monthly payment
​$407,550
5.25​%
35
​$2122.29
 
Month
Monthly payment
Interest
Principal
​End-of-month principal
1
​$2122.29
​$enter your response here
​$enter your response here
​$enter your response here
2
​$2122.29
​$enter your response here
​$enter your response here
​$enter your response here
 
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