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Please use question 19 to answer quesrion 20. thank u. will leave good rating /...

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Accounting

Please use question 19 to answer quesrion 20. thank u. will leave good rating / commenr image
(19) The price of a home is $120,000. The bank requires a 10% down payment and two points at the time of closing. The cost of the home is financed with a 30-year fixed-rate mortgage at 8.5%. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the two points at closing? d. Find the monthly payment (excluding escrowed taxes and insurance). Round to the nearest dollar. e. Find the total cost of interest over 30 years. (20) For Q19, Prepare a loan amortization schedule for the first two months of the mortgage. Round entries to the nearest cent. Loan # Interest Payment Principal Balance of the Loan payment

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