question archive Smith borrows $100,000 for his home mortgage loan, to be repaid in equal monthly installments over 10 years at j12=9%
Smith borrows $100,000 for his home mortgage loan, to be repaid in equal monthly installments over 10 years at j12=9%
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Smith borrows $100,000 for his home mortgage loan, to be repaid in equal monthly installments over 10 years at j12=9%. (2 parts in this question). How much principal is paid off in the first two year?
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Principal repaid in 24 months is 12,920 as calculated in below amortization schedule
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