Complete the following loan amortization by hand. Please dr…
Complete the following loan amortization by hand. Please draw a table like the one below on your blank page and fill in each blank. You will take a picture of this chart and upload your completed chart at the end of the exam. Please show your work. Please do not forget to calculate the total finance (interest) charge for this loan. You should enter the total interest (finance) charge in the blank prompt for this question. You are considering purchasing a house for $285,000. Do a three month loan amortization and calculate total finance charge. Assume a 20 % down payment. 20 year 5.25% loan with one discount point. Beginning Balance Payment Principal Interest Ending Balance FILL IN THE BLANK FOR. total finance charge: ___________________