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Please help me with finance loans?

To help buy her new house, Mai is taking out a $385,000 mortgage loan for 30 years at 4.6% annual interest. Her monthly payment for this loan is $1973.68

Fill in all the blanks in the amortization schedule for the loan. Assume that each month is 1/12 of a year. Round your answers to the nearest cent.

_____________________________________________________________

Payment Number| Interest Payment| Principal Payment| New Loan Balance |

______________|______________|_______________|________________|

1                          |           $ ___        |          $ ___           |          $ ___             |

______________|______________|_______________|________________|

2                          |           $ ___        |          $ ___           |          $ ___             |

______________|______________|_______________|________________|     

:                           |:                           |:                             |:                               |

______________|______________|_______________|________________|

205                      |           $887.09    |          $1086.59     |          $230,328.92  |

______________|______________|_______________|________________|

206                      |           $ ___        |          $ ___           |          $ ___             |

______________|______________|_______________|________________|

1 Answer

Relevance
  • Bryce
    Lv 7
    2 weeks ago
    Favorite Answer

    1. int: 1475.83, prin: 497.85, bal: 384,502.15

    2. 1473.92, 499.76, 384,002.40

    206. 882.93, 1090.75, 29,237.90

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