A resident in sugar land is planning to buy a new house in, Ask an Expert

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A resident in Sugar Land is planning to buy a new house in March 2014. The sale price of the house is $436,000. He plans to pay 20% down payments and borrow additional 80% from Wells Fargo with a 30-year, 4.375% fixed-rate mortgage loan. He is expected to pay an equal MONTHLY payment starting from April 2013 for a total of 30 years.

(1) find out the required monthly mortgage payment for Mr. Davidson.

(2) Construct the 2014~2018 amortization table for Mr. Davidson.

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