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i only have the asnwer for question number 1:
here it is:
1.)The length of the mortgage is 5 years. The mortgage amount is $89600. The interest rate on this mortgage is 8%. The monthly payment on this mortgage is $1816.76. The yearly payments on this mortgage total $21801.12.
Free Amortization Schedule and Monthly Payment Breakdown
Year
Principal Part
Interest Part
Total Principal
Total Interest
Balance
1
15181.77
6619.35
15181.83
6619.35
74418.17
2
16441.86
5359.26
31623.75
11978.61
57976.25
3
17806.53
3994.59
49430.34
15973.20
40169.66
4
19284.47
2516.65
68714.87
18489.85
20885.13
5
20885.07
916.05
89600.00
19405.90
0.00
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