 | The Cost of Home Ownership
Learning Objectives
LU 15–1: Types of Mortgages and the Monthly Mortgage Payment- List the types of mortgages available.
- Utilize an amortization chart to compute monthly mortgage payments.
- Calculate the total cost of interest over the life of a mortgage.
LU 15–2: Amortization Schedule—Breaking Down the Monthly Payment- Calculate and identify the interest and principal portion of each monthly payment.
- Prepare an amortization schedule.
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