How much principal is repaid in the first payment interval on a $100,000 25-year mortgage? The...

Question

Question

How much principal is repaid in the first payment interval on a $100,000 25-year mortgage? The mortgage is amortized over 25

Answer 1

Answer #1

d. $145.94

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

C D Mortgage Amount Term(years) Annual interest rate Semi-annual interest rate Monthly interest rate No. of monthly repayment

Cell reference -

012 в Mortgage Amount Term(years) Annual interest rate Semi-annual interest rate Monthly interest rate No. of monthly repayme

Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.

Answer 2

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