MHB Mortgage Calc: Calculate Payment, Owed & Interest Breakdown

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To calculate the monthly payment for a $1,000,000 home with a $60,000 down payment, a mortgage of $940,000 is needed at a 2.75% interest rate compounded semi-annually, plus a 3.10% mortgage insurance premium. The monthly payment can be determined using mortgage payment formulas available online. At the end of the 5-year term, the remaining balance can be calculated based on the amortization schedule. Additionally, the proportion of payments allocated to interest versus principal can be analyzed over the 60 payments. Utilizing available resources for calculations is encouraged for better understanding.
penelopedelmar
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Hi I need help with this review question for a class I missed.

A home you want to purchase is priced at $1,000,000. You have $60,000 available for a cash down payment. You borrow the remainder through a mortgage with a closed 5-year term and 25-year amortization at an interest rate of 2.75% compounded semi-annually.
1. What is the monthly payment with a 3.10% mortgage insurance premium?
2. How much will you owe at the end of 5-year term?
3. What percentage of the total 60 payments will be interest and what fraction will have gone towards paying down principal?
 
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