Calculate the amount of principal paid down, Finance Basics

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Calculate the amount of principal paid down

[A] What are the monthly payments for a 30-year, 9.00 percent, and fully-amortizing mortgage with initial contract principal of USD 120,000?

[B] Determine the outstanding loan balance after twelve years on the above 30-year, 9.00 percent, USD 120,000 loan with monthly payments?

[C] Calculate the amount of principal paid down and the amount of interest in the first payment in the above mortgage?

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Finance Basics: Calculate the amount of principal paid down

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Finance Basics: Calculate the amount of principal paid down

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