Question

Use the following information for the next 2 questions:

Tony and Pepper are planning to buy a new house for $500,000. They can get approved for a 3.6% APR, 30-year mortgage. In an amortization schedule:

17) What is the amount of principal payment in their first month mortgage payment?

Question 17 options:

	$773
	$790
	$1,800
	$963

What is the amount of interest payment in their second month mortgage payment?

Question 18 options:

	$1,500
	$1,497
	$1,238
	$1,469

Answer 1

17)

Hence, correct option is $773

18)

Hence, correct option is $1,497