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Calculate your monthly payments on this mortgage construct

Assignment

1. You plan to purchase a $XXX house using a 15 or 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6.50 percentage. You will make a down payment of 20 percent of the purchase price.

a. Calculate your monthly payments on this mortgage.

b. Construct the amortization schedule for the first six and last six payments.

2. Pitch me a stock. Make sure to provide details.

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Finance Basics: Calculate your monthly payments on this mortgage construct

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