12) You recently visited New York City, New York and decide that you want to move here. After researching, you decide to purchase a home with a list price of $590,000. The bank requires a 10% down payment. The remaining balance after making your down payment is the amount of your mortgage. The home is financed with a 30-year fixed rate mortgage at 3.56%. Use the formula R to find the amount of the monthly payments. From the information listed above, prepare a loan amortization schedule for the first four months of the mortgage loan shown in the table below Proper steps must be shown for full points. (Must fill amortization table, including the calculation of the Amount of Morlgage and Monthly Payments for full credit Annual Percentage rate: 3.56% Amount of Mortgage: Number of Monthly Payments: 360 Monthly Payments: Term: 30 years, 0 months Payment Number Interest Payment Principal Payment Balance of Loan
