Question

Answer as quickly as possible

Use this to answer 1 and 2

Suppose you are buying your first house for $450,000 with 15% down payment. You have arranged to finance the remaining amount with a 30-year, monthly payment, amortized mortgage at a 4.5% interest rate

1.) For the 140th payment, what is the breakdown between principal payment vs interest payment, Respectively

2.)What is remaining balance after 10 years of payment

Answer 1

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