1. The mortgage payment on an investment property is $1,572 per month. The fixed interest...
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Accounting
1. The mortgage payment on an investment property is $1,572 per month. The fixed interest rate on the loan is 3.5% and the original term was 25 years, the loan was fully amortized, and the loan was originated 10 years ago. What is the current balance on the loan?
2. You have a fixed-rate mortgage loan with a $1,085 payment. The mortgage loan has a 30-year term with monthly payments and the annual interest rate is 3.000%. What is the amortization associated with the 48th payment on the loan?
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