Business, 08.03.2021 19:50, jwmiciche7367

You plan to purchase a $240,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8 percent. You will make a down payment of 10 percent of the purchase price. a. Calculate your monthly payments on this mortgage. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e. g., 32.16))
Monthly payment $
b. Construct the amortization schedule for the first six payments. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e. g., 32.16))
Amortization Schedule for first 6 payments (months)
Month Beginning Loan Balance Payment Interest Principal Ending Loan
Balance
1 $ $ $ $ $
2
3
4
5
6

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You plan to purchase a $240,000 house using a 30-year mortgage obtained from your local credit union...