you plan to purchase a $220,000 house using a 15-year mortgage obtained from your bank. the mortgage rate offered to you is 4.75 percent. you will make a down payment of 20 percent of the purchase price.

you plan to purchase a $220,000 house using a 15-year mortgage obtained from your bank. the mortgage rate offered to you is 4.75 percent. you will make a down payment of 20 percent of the purchase price. a. calculate your monthly payments on this mortgage. b. (1) construct the amortization schedule for the mortgage (use excel to make the schedule and then copy and paste it to a word file. you may just show the first 3 months and the last three months) b. (2) how much total interest is paid on this mortgage?

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