, practice 1 Saved 5 You plan to purchase a $280,000 house using a 15-year mortgage obtained from your bank. The mortgag

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Practice 1 Saved 5 You Plan To Purchase A 280 000 House Using A 15 Year Mortgage Obtained From Your Bank The Mortgag 1 (69.83 KiB) Viewed 94 times

, practice 1 Saved 5 You plan to purchase a $280,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 4.80 percent. You will make a down payment of 15 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Construct the amortization schedule for the mortgage. How much total interest is paid on this mortgage? 0/0 points awarded Complete this question by entering your answers in the tabs below. Scored eBook Rea B Reg A Amortization Req B Total Interest Schedule Construct the amortization schedule for the mortgage? (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16) Print Month References 1 Amortization Schedule for the 15-Year Mortgage Cumulative Cumulative Principal Interest Principal Interest 905.39 952.00 905.39 952.00 909.01 948.38 1.814.39 1,900.38 912.64 944.74 2,727.04 2,845.12 1,842.62 14.77 2.755,26 X 959.51 X 1,849.99 7.40 4.569.65 X 2,86729 X Ending Balance 238,905.39 238,909.01 X 240,727.04 X 239.842.62 X 2 3 179 180 < Req A Req B Total Interest >