You buy a house, value of house is 1,000,000 and down payment of 20%

You buy a house, value of house is 1,000,000 and down payment of 20% You borrow the rest and the bank gives a rate of 6% for 15 years ( monthly payment ) 1) What is your monthly payment ?2) Of the first payment how much is principle (4000), how much is interest?3) Find the balance of loan at end of 7 years?4) Over 7 year period what is your principle reduction? what is interest ?5) Set up amortization table

 

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