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What is the breakdown of principal

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Q1. Now, returning to the original problem (again $180,000 original loan amount, 8% interest, 25 years), how long will it be until the mortgage is half paid off. Or, how long until the remaining loan balance is $90,000?

Q2. Suppose the borrower also has an opportunity to obtain a 15-year loan at 7% instead of the 25 year loan. What is the breakdown of principal and interest in the first month's payment?

Q3. How long until this mortgage is half paid off?

Reference no: EM132924442

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