You take out a $480,000 mortgage for 30 years at 5.5% interest
compounded monthly. Create an...
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Advance Math
You take out a $480,000 mortgage for 30 years at 5.5% interestcompounded monthly. Create an amortization schedule below for thefirst 3 periods of payment.
Period
Payment
Interest
Balance
Unpaid Balance
$480,000
1
2
3
How much do you pay in total for the loan?
How much of this goes toward interest?
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we need to find monthly payment
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