Mathematics, 10.06.2021 14:00 miathegeek97
A couple purchased a home and signed a mortgage contract for $900000 to be paid with half-yearly payments over a 25-year period. The interest rate applicable is j2=5.5% p. a applicable for the first five years, with the condition that the interest rate will be increased by 12% every 5 years for the remaining term of the loan.
a) calculate the half-yearly payment required for each five-year interval.
b) calculate the loan outstanding( outstanding balance) at the beginning of each five year interval.
c) prepare a loan amortization table for the final 12 half-years of the loan term.
please can anyone help me on letter c..please I really need your help
Answers: 2
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A couple purchased a home and signed a mortgage contract for $900000 to be paid with half-yearly pay...
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