Homework Answers
Answer to Question 4.
| Date | Payment | Interest | Principal | Loan Balance |
| Year 0 | $280,000 | |||
| Year 1 | $16,192 | $11,200 | $4,992 | $275,008 |
Calculation:
Interest = $280,000 * 4% = $11,200
Annual Payment = $16,192
Principal Repayment = $16,192 - $11,200 = $4,992
Loan Balance = $280,000 - $4,992 = $275,008
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i i got these answers wrong! please help Question 4 0.5/2 pts You obtain a mortgage...
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i got these answers wrong! please help
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Question 4 2 pts You obtain a mortgage for $280,000 at a 4% interest rate with yearly payments of $16,192. Fill out the mortgage schedule for year 1. (Round answers to the nearest dollar) Payment Interest Principal Date Year o Loan Balance $280,000 Year 1
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i got these answers wrong! please help
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