Loan amortization problem type

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Loan Amortization Problem Type your full name in the following order First Middle Last Number of letters in full name = Now assume that your annual salary = number of letters in your full name x $45,000 and that the bank you want to borrow from, has determined that it will lend you, loan amount= your annual salary x 2.5 interest rate = number of letters in your full name x 0.9% Assume that you will borrow for 15 years and you will make monthly payments at the end of each month. A) Calculate your monthly payment (Type your calculator inputs, i.e. N=, PV= and so on) B) Calculate the total interest amount you will pay over the life of the loan. c) if you had 10% of amount you could borrow in your savings and you could use it as a down payment (you borrow only 90% of the original amount) how much lower would you have been the total interest you would have paid over the life of the loan( compared to what you found in b )assume all other terms of the loan remain the same D) fill in the missing values in the amortization table below based on your payment found in C . Accuracy should be six decimals i won’t full answer for a,b,c,d

Reference no: EM131054785

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