Mathematics, 14.09.2021 14:00, hermine40

Consider the first payment against a $200,000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below
Payment # Payment Interest DebtPayment Balance
1
d 716.67
Pi
bi
2
Calculate bı, the balance on the loan after the first month. Give your answer in dollars to the nearest dollar. Do not include
commas or the dollar sign in your answer.

Answers: 3

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Consider the first payment against a $200,000 mortgage that last for 25 years. Fixed repayments are...