Construct an amortization schedule for the first three months and the final three months of payments for a 30-year, 7% mortgage in the amount of $90,000. What percentage of the third payment is principle? What percentage of the final payment is principle? What do these differences imply? (Hint: The balance after the 357^th payment is $1,775.56.)

Question

Quizplus · Accepted Answer

The Answer of Construct an amortization schedule for the first three months and the final three months of payments for a 30-year, 7% mortgage in the amount of $90,000. What percentage of the third payment is principle? What percentage of the final payment is principle? What do these differences imply? (Hint: The balance after the 357^th payment is $1,775.56.)

Construct an Amortization Schedule for the First Three Months and the Final