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Suppose you bought a house for 50,000,000 by paying 10% down payment. Make Amortization table by using this information.
Posted: Mon May 02, 2022 9:20 am
by answerhappygod
- Suppose You Bought A House For 50 000 000 By Paying 10 Down Payment Make Amortization Table By Using This Information 1 (45.7 KiB) Viewed 18 times
Suppose you bought a house for 50,000,000 by paying 10% down payment. Make Amortization table by using this information. Assuming there is no fees and payment is on annual basis. You need to pay this loan in 15 years. Now Assume this: 1. Original Interest rate is 10% for first two years. 2. Then next two years Interest rate is 8% 3. Then for rest of the period Interest rate drops to 6% 4. You need to pay every year original payment as you paid for 10% interest Now make Ammortization table based on these assumptions 1. What do you see when this table ends, last year of payment? 2. How much interest savings did you get from this option?