will?need a mortgage for the remaining amount. The bank offers you a loan for the required amount at a rate of 6.5%
(for the next 5 years) based on a 25?year amortization period.
a)What will your monthly mortgage payment be?
b)?Create an amortization table the?at shows the first 5 months of payments, how much goes towards interest
and principle, and the outstanding balance
c)?How much will you still owe at the end of the 5?year term?
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