Homework_2

MINDTAP Q Search this cOL tivity- Amortization schedule a. Complete an amortization schedule for a $44,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Раyment Interest of Principal Balance 1 24 %24 2. 24 $4 %24 24 24 %24 24 b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places. % Interest % Principal Year 1: Year 2: Year 3: % c. Why do these percentages change over time? I. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. II. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining or…

Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $197,000 at 7.02% for 15 years Question content area bottom Part 1 The monthly payments are $enter your response here.

Calculate the principal portion of the second payment on the required on an amortized loan annual interest rate of 8.25% for 20 years. finance the purchase of a new home priced at $99,757.57 assuming the O A. $165.30 O B. $174.17 OC. $175.30 O D. $164.17 Click to select your answer. tUs /- MacBook Air 888 F4 14 F7 F1 F3 FS F6 II 4) F9 F10 F11 @ 2$ 4 23 & 2 6. 0. R Y P. S D F H. J K B alt command +

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Question Consider the first payment against a $200,000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below. Payment # 1 2 Payment d Interest 716.67 ... Debt Payment P1 Calculate d, the fixed monthly payments that are made. Round your answer to the nearest cent. Balance b₁ Ih

Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Principal $42,000 Interest rate 14% www The amount of the equal, annual, end-of-year payment, CF, is $ Term of loan (years) 20 (Round to the nearest cent.)

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1 Find the total monthly payment, including taxes and insurance, for the following loan. Annual Annual Amount of Loan Term of Loan Taxes Insurance Interest Rate 1 6-% $149,500 10 years $2830 $655 Click the icon to view the real estate amortization table. Complete the table below. Amount of Loan $149,500 0 Interest Rate 1 6-% 2 Term of Loan W Annual Taxes $2830 F Monthly Payment Annual Insurance $655 10 years (Simplify your answer. Round to the nearest cent as needed.) Monthly Payment $

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39 Identify the correct formula to calculate the payment for a loan, where the rate is 6%, the loan amount is $2,000, and payments will be made monthly for six years. =PMT(6,6*12,2000) =PMT(.06/12,6*12,-2000) once=1/1b1435-b60f-40fb-ad57-d89084c2075a&launchCode=qe8mtdEeV5pWjPP2nq... =PMT(.06,6*12,-2000) =PMT(.06,6*12,2000)

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Picture Tools Format O Tell me what you want to do... Exercise 10. Loan Payments A student loan of $50,000 at a fixed APR of 6% for 20 years (10a) Calculate the monthly payment P x APR РMТ (-nY)1 1+ APR (10b) Determine the total amount paid over the term of the loan.

Amortization Table - Breaking Down Your Payment - No video             This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the principle/interest portion of a loan payment at any given point in time. Be sure to use cell references.             Initial Balance   $10,000.00          Annual Interest Rate   10%         Years   10         Annual Payemnt   $1,627.45                      Summary loan data for year 4                     Balance at start of year           Balance at end of year           Interest paid during the year           Principle paid during the year

Fl in an amortization table (in dollars) for a loan of $8,500 to be paid back over 2 years, at an annual interest rate of 1.3, compounded quarterly. For eech value in the table, round your answer to the nearest cent and use this value to calculate the next value. Payment number Payment amount Payment amount to interest Payment amount to debt Outstanding principal S0.500 13 14

Narrative 14-1For problems in this section, use Table 14-1 from your text to find the monthly mortgage payments, whennecessary.   Refer to Narrative 14-1. You purchase a home for $69,750 at 6.75% for 30 years. The property taxes are $2,450per year, and the hazard insurance premium is $256 semiannually. Find the monthly PITI payment.   Group of answer choices 699.51 $594.73 $1,059.40 $246.83

Ttme Value of of Money Tim wants to borrow $400,000 from Bank of America on a 30-year mortgage. a. What would Tim's monthly payments be on his motgage? b. Amortize the loan and determine: Interest expense for the first quarter of the loan. Cash flows for the first quarter of the loan. Loan balance at the end of the first quarter of the loan. Please show your calculations, part b is very important. If you are using the TVM chart, please state whether you used PVoA, FVoA, PVoSA, FVoSA.

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Unsubsidized Student Loans Step 1 You receive a 10-year unsubsidized student loan of $33,000 at an annual Interest rate of 5.8%. Use simple interest to find your new total loan amount after you graduate in 4 years. (Round your answer to the nearest cent.) $7656 x 40656.00 Step 2 Your new total loan amount is $40656.00. What are your monthly loan payments for this loan? (Round your answer to the nearest cent.) %24 |x Submit Skip (you cannot come back)

Can you help me to find the full repayment for this question, please?