You borrowed ?$200,000 exactly 2 years ago. The loan is structured as an amortized loan. The interest rate is 7?% and you make quarterly? (end-of-quarter) payments of ?$4,249.76.
The loan is amortized over 25 years. How much principal have you paid over the first 2 ?years?
How much principal have you paid over the first 2? years?
If possible can you show the formula?