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Andrew takes out a 30-year home-loan of $650,000. The bank charges interest at 6% p.a. compounded...

Andrew takes out a 30-year home-loan of $650,000. The bank charges interest at 6% p.a. compounded monthly. Andrew repay the same amount at the end of each month for the whole loan term. Help Andrew to prepare the loan repayment schedule for month 61 below. (Round your answer to 2 decimal places. Do not include the $ symbol. Do not use comma separators. E.g. 1234.56)

Month

Opening balance of the loan

Interest Paid

Principal Paid

Ending balance of the loan

61

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Answer

Answer

Answer
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