Use the following amortization chart: Selling price of home Down payment Principal()Rate of interest Years Payment per $1,000Monthly mortgage payment $96,000$5,000$91,0005.5%30$5.6779$516.69 What is the total cost of i...
that proportion changes, with more of your monthly payment gradually going toward principal and less toward interest. Here’s an example amortization chart showing how your principal payment and balance changes over the life of the loan: