You want to purchase a new condominium that costs $329,000. Your plan is to pay 20 percent
down in cash and tinance the balance over 25 years at 6.25 percent.
***monthly mortgage:1736.25
A. Show the amortization table for the first two months of the loan.
B. What will be the total amount of interest paid over the life of the loan?
C. What will be the outstanding loan balance at the end of year 6?