Amortization use an amortization table such as www, Ask an Expert

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Amortization Use an amortization table (such as www. bloomberg.com/invest/calculators/index.html) that determines the monthly mortgage payment based on a specific interest rate and principal with a 15-year maturity and then for a 30-year maturity.

Is the monthly payment for the 15-year maturity twice the amount for the 30-year maturity or less than twice the amount? Explain.

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