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fuo*ization sdredule. We canuse afree "mortization spreadsheet on theweb. T-fr* web address is: http:lAilrww.brelwhissel.ne#ffio4izationlamo.rtizg.hhl. Enter the amount of the loan, i.e. tre selling price minus the donm payrnent, lhe hterest rate, an&the appropride numberof yean. Chekthe box to show thesc,hedule.
G ? r1 Amortization Sc&edule noon&Iy payment for a 30 year mortgag" (Note: if tlis is more thar ? or 3 cents differeirt from yoru calculation, check yoTr numbers!)
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ratat interest paid over 3 0

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Notice that the amormt of the payaent that goes towards theprincipat md the amount that goes towarids the intsest arc not constmt. What do you obsenre about each of flrese values?

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more of paymeut goes towad principal &an interest

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As already mentioied, &ese pa5anenb ae for priucipaland interest only. You will also have ! u ruonlhly palnuents for home in$rasoe and property t*res. In addition, it is helpful to have As wisc water, food. a horhe nmning md rnoney left over for those little hxwies like electricity, owner, you decide that your monthly principal and interestpalment shodd not eirceed 35% of yorn moathly take-home pay.' Whd minimum monthly take-home pay should you have in ordei"ri lo meet this goal? Show your work for makiug this

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lr,ffrnimnm monthly take home pay