Suppose you bough! a house and took out a mortgage for 5600.000. The NORMINAL. interest...
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Suppose you bough! a house and took out a mortgage for 5600.000. The NORMINAL. interest rate is 2.85.% and you must amortize the loan over 15years of MONTHLY PAYMENTS with equal end-of-month payments. Set up an amortization schedule that shows the MONTYLY payments and the amount of each payment that goes to pay off the principal and the amount that constitutes interest expense to the borrower and interest income to the lender
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