a) Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.80%. What portion of the payments during the first 31 months goes toward principal?
b) What is the remaining balance on a $225,000.00 mortgage after 95 months? The mortgage is a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.90%.
c) Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.70%. What portion of the payments during the first 30 months goes toward interest?
d) Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.70%. What portion of the payments during the first 29 months goes toward principal?