Your friend decides to purchase a home and takes a 15-year, $100,000 mortgage with a mortgage rate of 4.8%. Her monthly mortgage payment would be $780.4. Please fill in the blanks.
Month |
Beginning balance of loan |
Monthly payment |
Monthly interest rate |
Amount applied to interest |
Amount applied to principal |
Ending balance of loan |
1 |
$100,000 |
$780.4 |
a. |
b. |
c. |
d. |
2 |
e. |
f. |
g. |
h. |
i. |
j. |
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