Use PMTE - nt to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $190,000 20-year foxed-rate mortgage at 3.5%
b. Prepare a loan amortization schedule for the first three months of the mortgage
a. The monthly payment is $ 9,793.62
(Do not round until the final answer. Then round to the nearest cent as needed)
The total interest for the loan is $ 73,033.72
(Use the answer from part a to find this answer. Round to the nearest cent as needed.)
b. Fill out the loan amortization schedule for the first three months of the mortgage below.
Payment Number
Interest
1
51
2
s
3
$
(Use the answer from part a to find these answers. Round to the nearest cent as needed.)
Loan Balance
Principal
SI
$
SI
$
S