Mod 15 HW
xlsx
keyboard_arrow_up
School
Utah State University *
*We aren’t endorsed by this school
Course
2010
Subject
Finance
Date
Apr 3, 2024
Type
xlsx
Pages
35
Uploaded by ConstableElementWaterBuffalo
*** STUDENTS - using the information provided below and the worksheets that follow, answer the que
Problem Details
Assume that you have been working for about five years and have been saving up to move into a home. The following information relates to your monthly paycheck and withholdings:
* You estimate your combined state and federal income tax rate is 20%
* You contribute $700 per month out of each paycheck to your 401k
* $500 is withheld from each paycheck for health insurance
* You have FICA withholdings of 7.65% from every paycheck
You also create an estimate of your monthly expenses (before any housing costs), as follows:
* Food:
$ 800.00 * Utilities:
400.00 * Gas:
250.00 * Emergency Fund:
480.00 * Clothing:
200.00 * Medical:
265.00 * Personal:
110.00 * Entertainment:
290.00 * Life Insurance:
40.00 QUESTION 1: What is your monthly take-home pay?
Monthly Pay:
Monthly Gross Pay
$ 12,250.00 taxes
(2,450.00)
401K
(700.00)
Health Insurance
(500.00)
FICA
(937.13)
total
$ 7,662.88 QUESTION 2: Based on the information above, what is the maximum amount that you could afford to Max monthly payment:
take home pay
$ 7,662.88 monthly expenses
(2,835.00)
$ 4,827.88 * Your annual gross salary is $147,000
estions listed on the "ASSIGNMENT - PART 1" and "ASSIGNMENT - PART 2" sheets ***
You first evaluate your income to determine what you can afford in terms of monthly payments. pay for housing each month?
CONTINUED BELOW ↓
CONTINUED BELOW ↓
CONTINUED BELOW ↓
CONTINUED BELOW ↓
*** STUDENTS - using the information provided below and the worksheets that follow, answer the q
Part 2 Details
Option 1:
* The home would require 100% financing with a $590,000 loan
* The interest rate on the loan is 7.25% annually
Option 2:
* The home would require 100% financing with a $590,000 loan
* The interest rate on the loan is 6.5% annually
Option 3: * Rent a home from a family member for $2,800 per month
* The family member has promised that rent will stay the same for the entire 7 years
* You will be responsible for all utilities while you live in the home
You also determine the following relevant information:
* You expect that residential real estate will grow (appreciate) at a rate of 4.5% per year over the
* If you purchase a home, in addition to the mortgage payment, you will be required to purchase
* If you purchase a home, your monthly escrow for property taxes will be $310 per month
* If you purchase a home, you estimate monthly repairs and maintenance will cost you $175 per * You plan to invest any excess monthly cash in your 401k, which you estimate will earn 11% ann
QUESTION 3: What will be the monthly MORTGAGE payment for the 30- and 15-year fixed mortgag
30-year:
($4,024.84)
15-year:
($5,139.53)
Months:
(278.29)
QUESTION 5: What will the home be worth after living in it for 7 years?
Value:
$802,908.48 QUESTION 6: Assuming you select the 30-year mortgage and make no extra payments, how much w
Owe:
$539,827.67 PV:
$1,575,002.69 QUESTION 8: Assuming you select the 15-year mortgage and make no extra payments, how much w
Now that you have established your monthly budget, you are ready to compare three options that you
years, after which you will move to a different location/home.
* Purchase a home for $590,000 using a 30-year fixed mortgage
* Purchase a home for $590,000 using a 15-year fixed mortgage
QUESTION 4: If you selected the 30-year fixed mortgage and paid an additional $360 per month tow
QUESTION 7: What is the present value of purchasing a home with the 30-year mortgage option (an
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Owe:
$383,941.74 QUESTION 9: What is the present value of purchasing a home with the 15-year mortgage option (an
PV:
$150,173.17 QUESTION 10: What is the present value of pursuing the rental option (and living in it 7 years)? Be s
PV:
$163,528.13 QUESTION 11: Based SOLELY on your time value of money calculations (from Q7, Q9, and Q10), whi
Option:
15 yr mortgage
Option:
rent, it seems safer
30-year PV:
$167,384.59 15-year PV:
$160,055.07 Option:
still rent, the mortgages wouldn't be affordable. QUESTION 12: Based on your time value of money calculations AND your monthly budget, which op
QUESTION 13: Assume instead that home values appreciate at 4.1% annually. What is the present v
questions listed on the "ASSIGNMENT - PART 1" and "ASSIGNMENT - PART 2" sheets ***
e next 7 years
e mortgage insurance ($60 per month) and homeowner's insurance ($220 per month)
month over the 7 years
nually over the next 7 years
ges (ignoring other costs)?
will you still owe after 7 years?
will you still owe after 7 years?
u are considering. Regardless of which option you select, you plan to stay in the home for 7 CONTINUED BELOW ↓
CONTINUED BELOW ↓
CONTINUED BELOW ↓
CONTINUED BELOW ↓
ward the principal, how long (in months) would it take you to pay off the loan? Ignore your estimated residency o
CONTINUED BELOW ↓
CONTINUED BELOW ↓
CONTINUED BELOW ↓
nd living in it 7 years)? Assume no additional principal payments are made. Be sure to incorporate ALL relevant in
CONTINUED BELOW ↓
nd living in it 7 years)? Be sure to incorporate ALL relevant information above.
sure to incorporate ALL relevant information above
ich option should you pursue?
CONTINUED BELOW ↓
CONTINUED BELOW ↓
CONTINUED BELOW ↓
CONTINUED BELOW ↓
ption should you pursue? Justify your answer.
CONTINUED BELOW ↓
value of each home purchase option? Which option should you pursue? Justify your answer.
CONTINUED BELOW ↓
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
of 7 years.
nformation above.
MORTGAGE TERMS
PAYMENT CALCULATOR
Month
Rate
Amount:
590,000 rate
0.60%
Years:
30 nper
360 1
0.60%
Annual Rate:
7.25%
pv
590,000 2
0.60%
fv
- 3
0.60%
type
0
4
0.60%
5
0.60%
PMT
($4,024.84)
6
0.60%
7
0.60%
8
0.60%
NPER CALCULATOR
9
0.60%
rate
0.60%
10
0.60%
pmt
(4,385)
11
0.60%
pv
590,000 12
0.60%
fv
- 13
0.60%
type
0
14
0.60%
15
0.60%
NPER
278.27 16
0.60%
17
0.60%
18
0.60%
19
0.60%
20
0.60%
21
0.60%
22
0.60%
23
0.60%
24
0.60%
25
0.60%
26
0.60%
27
0.60%
28
0.60%
29
0.60%
30
0.60%
31
0.60%
32
0.60%
33
0.60%
34
0.60%
35
0.60%
36
0.60%
37
0.60%
38
0.60%
39
0.60%
40
0.60%
41
0.60%
42
0.60%
43
0.60%
44
0.60%
45
0.60%
46
0.60%
47
0.60%
48
0.60%
49
0.60%
50
0.60%
51
0.60%
52
0.60%
53
0.60%
54
0.60%
55
0.60%
56
0.60%
57
0.60%
58
0.60%
59
0.60%
60
0.60%
61
0.60%
62
0.60%
63
0.60%
64
0.60%
65
0.60%
66
0.60%
67
0.60%
68
0.60%
69
0.60%
70
0.60%
71
0.60%
72
0.60%
73
0.60%
74
0.60%
75
0.60%
76
0.60%
77
0.60%
78
0.60%
79
0.60%
80
0.60%
81
0.60%
82
0.60%
83
0.60%
84
0.60%
85
0.60%
86
0.60%
87
0.60%
88
0.60%
89
0.60%
90
0.60%
91
0.60%
92
0.60%
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
93
0.60%
94
0.60%
95
0.60%
96
0.60%
97
0.60%
98
0.60%
99
0.60%
100
0.60%
101
0.60%
102
0.60%
103
0.60%
104
0.60%
105
0.60%
106
0.60%
107
0.60%
108
0.60%
109
0.60%
110
0.60%
111
0.60%
112
0.60%
113
0.60%
114
0.60%
115
0.60%
116
0.60%
117
0.60%
118
0.60%
119
0.60%
120
0.60%
121
0.60%
122
0.60%
123
0.60%
124
0.60%
125
0.60%
126
0.60%
127
0.60%
128
0.60%
129
0.60%
130
0.60%
131
0.60%
132
0.60%
133
0.60%
134
0.60%
135
0.60%
136
0.60%
137
0.60%
138
0.60%
139
0.60%
140
0.60%
141
0.60%
142
0.60%
143
0.60%
144
0.60%
145
0.60%
146
0.60%
147
0.60%
148
0.60%
149
0.60%
150
0.60%
151
0.60%
152
0.60%
153
0.60%
154
0.60%
155
0.60%
156
0.60%
157
0.60%
158
0.60%
159
0.60%
160
0.60%
161
0.60%
162
0.60%
163
0.60%
164
0.60%
165
0.60%
166
0.60%
167
0.60%
168
0.60%
169
0.60%
170
0.60%
171
0.60%
172
0.60%
173
0.60%
174
0.60%
175
0.60%
176
0.60%
177
0.60%
178
0.60%
179
0.60%
180
0.60%
181
0.60%
182
0.60%
183
0.60%
184
0.60%
185
0.60%
186
0.60%
187
0.60%
188
0.60%
189
0.60%
190
0.60%
191
0.60%
192
0.60%
193
0.60%
194
0.60%
195
0.60%
196
0.60%
197
0.60%
198
0.60%
199
0.60%
200
0.60%
201
0.60%
202
0.60%
203
0.60%
204
0.60%
205
0.60%
206
0.60%
207
0.60%
208
0.60%
209
0.60%
210
0.60%
211
0.60%
212
0.60%
213
0.60%
214
0.60%
215
0.60%
216
0.60%
217
0.60%
218
0.60%
219
0.60%
220
0.60%
221
0.60%
222
0.60%
223
0.60%
224
0.60%
225
0.60%
226
0.60%
227
0.60%
228
0.60%
229
0.60%
230
0.60%
231
0.60%
232
0.60%
233
0.60%
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
234
0.60%
235
0.60%
236
0.60%
237
0.60%
238
0.60%
239
0.60%
240
0.60%
241
0.60%
242
0.60%
243
0.60%
244
0.60%
245
0.60%
246
0.60%
247
0.60%
248
0.60%
249
0.60%
250
0.60%
251
0.60%
252
0.60%
253
0.60%
254
0.60%
255
0.60%
256
0.60%
257
0.60%
258
0.60%
259
0.60%
260
0.60%
261
0.60%
262
0.60%
263
0.60%
264
0.60%
265
0.60%
266
0.60%
267
0.60%
268
0.60%
269
0.60%
270
0.60%
271
0.60%
272
0.60%
273
0.60%
274
0.60%
275
0.60%
276
0.60%
277
0.60%
278
0.60%
279
0.60%
280
0.60%
281
0.60%
282
0.60%
283
0.60%
284
0.60%
285
0.60%
286
0.60%
287
0.60%
288
0.60%
289
0.60%
290
0.60%
291
0.60%
292
0.60%
293
0.60%
294
0.60%
295
0.60%
296
0.60%
297
0.60%
298
0.60%
299
0.60%
300
0.60%
301
0.60%
302
0.60%
303
0.60%
304
0.60%
305
0.60%
306
0.60%
307
0.60%
308
0.60%
309
0.60%
310
0.60%
311
0.60%
312
0.60%
313
0.60%
314
0.60%
315
0.60%
316
0.60%
317
0.60%
318
0.60%
319
0.60%
320
0.60%
321
0.60%
322
0.60%
323
0.60%
324
0.60%
325
0.60%
326
0.60%
327
0.60%
328
0.60%
329
0.60%
330
0.60%
331
0.60%
332
0.60%
333
0.60%
334
0.60%
335
0.60%
336
0.60%
337
0.60%
338
0.60%
339
0.60%
340
0.60%
341
0.60%
342
0.60%
343
0.60%
344
0.60%
345
0.60%
346
0.60%
347
0.60%
348
0.60%
349
0.60%
350
0.60%
351
0.60%
352
0.60%
353
0.60%
354
0.60%
355
0.60%
356
0.60%
357
0.60%
358
0.60%
359
0.60%
360
0.60%
TOTALS:
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Int. Expense
Mortgage Pmt
Extra Pmt
Principal Pmt
Carrying Value
590,000.00 3,564.58 4,024.84
0.00 460.26 589,539.74 3,561.80 4,024.84
0.00 463.04 589,076.71 3,559.01 4,024.84
0.00 465.83 588,610.87 3,556.19 4,024.84
0.00 468.65 588,142.22 3,553.36 4,024.84
0.00 471.48 587,670.74 3,550.51 4,024.84
0.00 474.33 587,196.41 3,547.64 4,024.84
0.00 477.20 586,719.22 3,544.76 4,024.84
0.00 480.08 586,239.14 3,541.86 4,024.84
0.00 482.98 585,756.16 3,538.94 4,024.84
0.00 485.90 585,270.26 3,536.01 4,024.84
0.00 488.83 584,781.43 3,533.05 4,024.84
0.00 491.79 584,289.65 3,530.08 4,024.84
0.00 494.76 583,794.89 3,527.09 4,024.84
0.00 497.75 583,297.14 3,524.09 4,024.84
0.00 500.75 582,796.39 3,521.06 4,024.84
0.00 503.78 582,292.61 3,518.02 4,024.84
0.00 506.82 581,785.79 3,514.96 4,024.84
0.00 509.88 581,275.90 3,511.88 4,024.84
0.00 512.96 580,762.94 3,508.78 4,024.84
0.00 516.06 580,246.88 3,505.66 4,024.84
0.00 519.18 579,727.69 3,502.52 4,024.84
0.00 522.32 579,205.38 3,499.37 4,024.84
0.00 525.47 578,679.90 3,496.19 4,024.84
0.00 528.65 578,151.25 3,493.00 4,024.84
0.00 531.84 577,619.41 3,489.78 4,024.84
0.00 535.06 577,084.35 3,486.55 4,024.84
0.00 538.29 576,546.06 3,483.30 4,024.84
0.00 541.54 576,004.52 3,480.03 4,024.84
0.00 544.81 575,459.71 3,476.74 4,024.84
0.00 548.10 574,911.61 3,473.42 4,024.84
0.00 551.42 574,360.19 3,470.09 4,024.84
0.00 554.75 573,805.44 3,466.74 4,024.84
0.00 558.10 573,247.34 3,463.37 4,024.84
0.00 561.47 572,685.87 3,459.98 4,024.84
0.00 564.86 572,121.01 3,456.56 4,024.84
0.00 568.28 571,552.74 3,453.13 4,024.84
0.00 571.71 570,981.03 3,449.68 4,024.84
0.00 575.16 570,405.86 3,446.20 4,024.84
0.00 578.64 569,827.23 3,442.71 4,024.84
0.00 582.13 569,245.09 3,439.19 4,024.84
0.00 585.65 568,659.44 3,435.65 4,024.84
0.00 589.19 568,070.25 3,432.09 4,024.84
0.00 592.75 567,477.50 3,428.51 4,024.84
0.00 596.33 566,881.17 3,424.91 4,024.84
0.00 599.93 566,281.24
3,421.28 4,024.84
0.00 603.56 565,677.68 3,417.64 4,024.84
0.00 607.20 565,070.48 3,413.97 4,024.84
0.00 610.87 564,459.60 3,410.28 4,024.84
0.00 614.56 563,845.04 3,406.56 4,024.84
0.00 618.28 563,226.77 3,402.83 4,024.84
0.00 622.01 562,604.75 3,399.07 4,024.84
0.00 625.77 561,978.98 3,395.29 4,024.84
0.00 629.55 561,349.43 3,391.49 4,024.84
0.00 633.35 560,716.08 3,387.66 4,024.84
0.00 637.18 560,078.90 3,383.81 4,024.84
0.00 641.03 559,437.87 3,379.94 4,024.84
0.00 644.90 558,792.97 3,376.04 4,024.84
0.00 648.80 558,144.17 3,372.12 4,024.84
0.00 652.72 557,491.45 3,368.18 4,024.84
0.00 656.66 556,834.79 3,364.21 4,024.84
0.00 660.63 556,174.16 3,360.22 4,024.84
0.00 664.62 555,509.53 3,356.20 4,024.84
0.00 668.64 554,840.90 3,352.16 4,024.84
0.00 672.68 554,168.22 3,348.10 4,024.84
0.00 676.74 553,491.48 3,344.01 4,024.84
0.00 680.83 552,810.65 3,339.90 4,024.84
0.00 684.94 552,125.71 3,335.76 4,024.84
0.00 689.08 551,436.63 3,331.60 4,024.84
0.00 693.24 550,743.39 3,327.41 4,024.84
0.00 697.43 550,045.95 3,323.19 4,024.84
0.00 701.65 549,344.31 3,318.96 4,024.84
0.00 705.88 548,638.42 3,314.69 4,024.84
0.00 710.15 547,928.27 3,310.40 4,024.84
0.00 714.44 547,213.83 3,306.08 4,024.84
0.00 718.76 546,495.08 3,301.74 4,024.84
0.00 723.10 545,771.98 3,297.37 4,024.84
0.00 727.47 545,044.51 3,292.98 4,024.84
0.00 731.86 544,312.65 3,288.56 4,024.84
0.00 736.28 543,576.36 3,284.11 4,024.84
0.00 740.73 542,835.63 3,279.63 4,024.84
0.00 745.21 542,090.42 3,275.13 4,024.84
0.00 749.71 541,340.71 3,270.60 4,024.84
0.00 754.24 540,586.47 3,266.04 4,024.84
0.00 758.80 539,827.67 3,261.46 4,024.84
0.00 763.38 539,064.29 3,256.85 4,024.84
0.00 767.99 538,296.30 3,252.21 4,024.84
0.00 772.63 537,523.67 3,247.54 4,024.84
0.00 777.30 536,746.37 3,242.84 4,024.84
0.00 782.00 535,964.37 3,238.12 4,024.84
0.00 786.72 535,177.65 3,233.36 4,024.84
0.00 791.48 534,386.17 3,228.58 4,024.84
0.00 796.26 533,589.91
3,223.77 4,024.84
0.00 801.07 532,788.85 3,218.93 4,024.84
0.00 805.91 531,982.94 3,214.06 4,024.84
0.00 810.78 531,172.16 3,209.17 4,024.84
0.00 815.67 530,356.49 3,204.24 4,024.84
0.00 820.60 529,535.88 3,199.28 4,024.84
0.00 825.56 528,710.32 3,194.29 4,024.84
0.00 830.55 527,879.78 3,189.27 4,024.84
0.00 835.57 527,044.21 3,184.23 4,024.84
0.00 840.61 526,203.59 3,179.15 4,024.84
0.00 845.69 525,357.90 3,174.04 4,024.84
0.00 850.80 524,507.10 3,168.90 4,024.84
0.00 855.94 523,651.16 3,163.73 4,024.84
0.00 861.11 522,790.04 3,158.52 4,024.84
0.00 866.32 521,923.72 3,153.29 4,024.84
0.00 871.55 521,052.17 3,148.02 4,024.84
0.00 876.82 520,175.36 3,142.73 4,024.84
0.00 882.11 519,293.24 3,137.40 4,024.84
0.00 887.44 518,405.80 3,132.04 4,024.84
0.00 892.81 517,512.99 3,126.64 4,024.84
0.00 898.20 516,614.80 3,121.21 4,024.84
0.00 903.63 515,711.17 3,115.75 4,024.84
0.00 909.09 514,802.08 3,110.26 4,024.84
0.00 914.58 513,887.51 3,104.74 4,024.84
0.00 920.10 512,967.40 3,099.18 4,024.84
0.00 925.66 512,041.74 3,093.59 4,024.84
0.00 931.25 511,110.49 3,087.96 4,024.84
0.00 936.88 510,173.61 3,082.30 4,024.84
0.00 942.54 509,231.07 3,076.60 4,024.84
0.00 948.24 508,282.83 3,070.88 4,024.84
0.00 953.96 507,328.87 3,065.11 4,024.84
0.00 959.73 506,369.14 3,059.31 4,024.84
0.00 965.53 505,403.61 3,053.48 4,024.84
0.00 971.36 504,432.25 3,047.61 4,024.84
0.00 977.23 503,455.02 3,041.71 4,024.84
0.00 983.13 502,471.89 3,035.77 4,024.84
0.00 989.07 501,482.82 3,029.79 4,024.84
0.00 995.05 500,487.77 3,023.78 4,024.84
0.00 1,001.06 499,486.71 3,017.73 4,024.84
0.00 1,007.11 498,479.60 3,011.65 4,024.84
0.00 1,013.19 497,466.41 3,005.53 4,024.84
0.00 1,019.31 496,447.10 2,999.37 4,024.84
0.00 1,025.47 495,421.62 2,993.17 4,024.84
0.00 1,031.67 494,389.96 2,986.94 4,024.84
0.00 1,037.90 493,352.05 2,980.67 4,024.84
0.00 1,044.17 492,307.88 2,974.36 4,024.84
0.00 1,050.48 491,257.40 2,968.01 4,024.84
0.00 1,056.83 490,200.58
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
2,961.63 4,024.84
0.00 1,063.21 489,137.37 2,955.20 4,024.84
0.00 1,069.64 488,067.73 2,948.74 4,024.84
0.00 1,076.10 486,991.63 2,942.24 4,024.84
0.00 1,082.60 485,909.03 2,935.70 4,024.84
0.00 1,089.14 484,819.89 2,929.12 4,024.84
0.00 1,095.72 483,724.17 2,922.50 4,024.84
0.00 1,102.34 482,621.83 2,915.84 4,024.84
0.00 1,109.00 481,512.83 2,909.14 4,024.84
0.00 1,115.70 480,397.13 2,902.40 4,024.84
0.00 1,122.44 479,274.69 2,895.62 4,024.84
0.00 1,129.22 478,145.47 2,888.80 4,024.84
0.00 1,136.04 477,009.43 2,881.93 4,024.84
0.00 1,142.91 475,866.52 2,875.03 4,024.84
0.00 1,149.81 474,716.71 2,868.08 4,024.84
0.00 1,156.76 473,559.95 2,861.09 4,024.84
0.00 1,163.75 472,396.20 2,854.06 4,024.84
0.00 1,170.78 471,225.42 2,846.99 4,024.84
0.00 1,177.85 470,047.56 2,839.87 4,024.84
0.00 1,184.97 468,862.60 2,832.71 4,024.84
0.00 1,192.13 467,670.47 2,825.51 4,024.84
0.00 1,199.33 466,471.14 2,818.26 4,024.84
0.00 1,206.58 465,264.56 2,810.97 4,024.84
0.00 1,213.87 464,050.69 2,803.64 4,024.84
0.00 1,221.20 462,829.49 2,796.26 4,024.84
0.00 1,228.58 461,600.91 2,788.84 4,024.84
0.00 1,236.00 460,364.91 2,781.37 4,024.84
0.00 1,243.47 459,121.44 2,773.86 4,024.84
0.00 1,250.98 457,870.46 2,766.30 4,024.84
0.00 1,258.54 456,611.92 2,758.70 4,024.84
0.00 1,266.14 455,345.78 2,751.05 4,024.84
0.00 1,273.79 454,071.99 2,743.35 4,024.84
0.00 1,281.49 452,790.50 2,735.61 4,024.84
0.00 1,289.23 451,501.27 2,727.82 4,024.84
0.00 1,297.02 450,204.25 2,719.98 4,024.84
0.00 1,304.86 448,899.39 2,712.10 4,024.84
0.00 1,312.74 447,586.65 2,704.17 4,024.84
0.00 1,320.67 446,265.98 2,696.19 4,024.84
0.00 1,328.65 444,937.33 2,688.16 4,024.84
0.00 1,336.68 443,600.65 2,680.09 4,024.84
0.00 1,344.75 442,255.90 2,671.96 4,024.84
0.00 1,352.88 440,903.02 2,663.79 4,024.84
0.00 1,361.05 439,541.97 2,655.57 4,024.84
0.00 1,369.27 438,172.70 2,647.29 4,024.84
0.00 1,377.55 436,795.15 2,638.97 4,024.84
0.00 1,385.87 435,409.28 2,630.60 4,024.84
0.00 1,394.24 434,015.04 2,622.17 4,024.84
0.00 1,402.67 432,612.38
2,613.70 4,024.84
0.00 1,411.14 431,201.24 2,605.17 4,024.84
0.00 1,419.67 429,781.57 2,596.60 4,024.84
0.00 1,428.24 428,353.33 2,587.97 4,024.84
0.00 1,436.87 426,916.45 2,579.29 4,024.84
0.00 1,445.55 425,470.90 2,570.55 4,024.84
0.00 1,454.29 424,016.61 2,561.77 4,024.84
0.00 1,463.07 422,553.54 2,552.93 4,024.84
0.00 1,471.91 421,081.63 2,544.03 4,024.84
0.00 1,480.81 419,600.82 2,535.09 4,024.84
0.00 1,489.75 418,111.07 2,526.09 4,024.84
0.00 1,498.75 416,612.32 2,517.03 4,024.84
0.00 1,507.81 415,104.51 2,507.92 4,024.84
0.00 1,516.92 413,587.60 2,498.76 4,024.84
0.00 1,526.08 412,061.51 2,489.54 4,024.84
0.00 1,535.30 410,526.21 2,480.26 4,024.84
0.00 1,544.58 408,981.63 2,470.93 4,024.84
0.00 1,553.91 407,427.73 2,461.54 4,024.84
0.00 1,563.30 405,864.43 2,452.10 4,024.84
0.00 1,572.74 404,291.69 2,442.60 4,024.84
0.00 1,582.24 402,709.44 2,433.04 4,024.84
0.00 1,591.80 401,117.64 2,423.42 4,024.84
0.00 1,601.42 399,516.22 2,413.74 4,024.84
0.00 1,611.10 397,905.12 2,404.01 4,024.84
0.00 1,620.83 396,284.29 2,394.22 4,024.84
0.00 1,630.62 394,653.67 2,384.37 4,024.84
0.00 1,640.47 393,013.19 2,374.45 4,024.84
0.00 1,650.39 391,362.81 2,364.48 4,024.84
0.00 1,660.36 389,702.45 2,354.45 4,024.84
0.00 1,670.39 388,032.06 2,344.36 4,024.84
0.00 1,680.48 386,351.58 2,334.21 4,024.84
0.00 1,690.63 384,660.95 2,323.99 4,024.84
0.00 1,700.85 382,960.10 2,313.72 4,024.84
0.00 1,711.12 381,248.98 2,303.38 4,024.84
0.00 1,721.46 379,527.52 2,292.98 4,024.84
0.00 1,731.86 377,795.66 2,282.52 4,024.84
0.00 1,742.32 376,053.34 2,271.99 4,024.84
0.00 1,752.85 374,300.48 2,261.40 4,024.84
0.00 1,763.44 372,537.04 2,250.74 4,024.84
0.00 1,774.10 370,762.95 2,240.03 4,024.84
0.00 1,784.81 368,978.13 2,229.24 4,024.84
0.00 1,795.60 367,182.54 2,218.39 4,024.84
0.00 1,806.45 365,376.09 2,207.48 4,024.84
0.00 1,817.36 363,558.73 2,196.50 4,024.84
0.00 1,828.34 361,730.39 2,185.45 4,024.84
0.00 1,839.39 359,891.01 2,174.34 4,024.84
0.00 1,850.50 358,040.51 2,163.16 4,024.84
0.00 1,861.68 356,178.83
2,151.91 4,024.84
0.00 1,872.93 354,305.90 2,140.60 4,024.84
0.00 1,884.24 352,421.66 2,129.21 4,024.84
0.00 1,895.63 350,526.03 2,117.76 4,024.84
0.00 1,907.08 348,618.96 2,106.24 4,024.84
0.00 1,918.60 346,700.36 2,094.65 4,024.84
0.00 1,930.19 344,770.16 2,082.99 4,024.84
0.00 1,941.85 342,828.31 2,071.25 4,024.84
0.00 1,953.59 340,874.72 2,059.45 4,024.84
0.00 1,965.39 338,909.34 2,047.58 4,024.84
0.00 1,977.26 336,932.07 2,035.63 4,024.84
0.00 1,989.21 334,942.86 2,023.61 4,024.84
0.00 2,001.23 332,941.64 2,011.52 4,024.84
0.00 2,013.32 330,928.32 1,999.36 4,024.84
0.00 2,025.48 328,902.84 1,987.12 4,024.84
0.00 2,037.72 326,865.12 1,974.81 4,024.84
0.00 2,050.03 324,815.09 1,962.42 4,024.84
0.00 2,062.42 322,752.67 1,949.96 4,024.84
0.00 2,074.88 320,677.80 1,937.43 4,024.84
0.00 2,087.41 318,590.39 1,924.82 4,024.84
0.00 2,100.02 316,490.36 1,912.13 4,024.84
0.00 2,112.71 314,377.65 1,899.36 4,024.84
0.00 2,125.48 312,252.18 1,886.52 4,024.84
0.00 2,138.32 310,113.86 1,873.60 4,024.84
0.00 2,151.24 307,962.63 1,860.61 4,024.84
0.00 2,164.23 305,798.39 1,847.53 4,024.84
0.00 2,177.31 303,621.08 1,834.38 4,024.84
0.00 2,190.46 301,430.62 1,821.14 4,024.84
0.00 2,203.70 299,226.93 1,807.83 4,024.84
0.00 2,217.01 297,009.91 1,794.43 4,024.84
0.00 2,230.41 294,779.51 1,780.96 4,024.84
0.00 2,243.88 292,535.63 1,767.40 4,024.84
0.00 2,257.44 290,278.19 1,753.76 4,024.84
0.00 2,271.08 288,007.12 1,740.04 4,024.84
0.00 2,284.80 285,722.32 1,726.24 4,024.84
0.00 2,298.60 283,423.72 1,712.35 4,024.84
0.00 2,312.49 281,111.23 1,698.38 4,024.84
0.00 2,326.46 278,784.77 1,684.32 4,024.84
0.00 2,340.52 276,444.25 1,670.18 4,024.84
0.00 2,354.66 274,089.60 1,655.96 4,024.84
0.00 2,368.88 271,720.72 1,641.65 4,024.84
0.00 2,383.19 269,337.52 1,627.25 4,024.84
0.00 2,397.59 266,939.93 1,612.76 4,024.84
0.00 2,412.08 264,527.85 1,598.19 4,024.84
0.00 2,426.65 262,101.20 1,583.53 4,024.84
0.00 2,441.31 259,659.89 1,568.78 4,024.84
0.00 2,456.06 257,203.83 1,553.94 4,024.84
0.00 2,470.90 254,732.93
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
1,539.01 4,024.84
0.00 2,485.83 252,247.10 1,523.99 4,024.84
0.00 2,500.85 249,746.25 1,508.88 4,024.84
0.00 2,515.96 247,230.29 1,493.68 4,024.84
0.00 2,531.16 244,699.14 1,478.39 4,024.84
0.00 2,546.45 242,152.69 1,463.01 4,024.84
0.00 2,561.83 239,590.85 1,447.53 4,024.84
0.00 2,577.31 237,013.54 1,431.96 4,024.84
0.00 2,592.88 234,420.66 1,416.29 4,024.84
0.00 2,608.55 231,812.11 1,400.53 4,024.84
0.00 2,624.31 229,187.80 1,384.68 4,024.84
0.00 2,640.16 226,547.64 1,368.73 4,024.84
0.00 2,656.11 223,891.52 1,352.68 4,024.84
0.00 2,672.16 221,219.36 1,336.53 4,024.84
0.00 2,688.31 218,531.05 1,320.29 4,024.84
0.00 2,704.55 215,826.51 1,303.95 4,024.84
0.00 2,720.89 213,105.62 1,287.51 4,024.84
0.00 2,737.33 210,368.29 1,270.98 4,024.84
0.00 2,753.86 207,614.43 1,254.34 4,024.84
0.00 2,770.50 204,843.92 1,237.60 4,024.84
0.00 2,787.24 202,056.68 1,220.76 4,024.84
0.00 2,804.08 199,252.60 1,203.82 4,024.84
0.00 2,821.02 196,431.58 1,186.77 4,024.84
0.00 2,838.07 193,593.51 1,169.63 4,024.84
0.00 2,855.21 190,738.30 1,152.38 4,024.84
0.00 2,872.46 187,865.84 1,135.02 4,024.84
0.00 2,889.82 184,976.02 1,117.56 4,024.84
0.00 2,907.28 182,068.74 1,100.00 4,024.84
0.00 2,924.84 179,143.90 1,082.33 4,024.84
0.00 2,942.51 176,201.39 1,064.55 4,024.84
0.00 2,960.29 173,241.10 1,046.66 4,024.84
0.00 2,978.18 170,262.92 1,028.67 4,024.84
0.00 2,996.17 167,266.76 1,010.57 4,024.84
0.00 3,014.27 164,252.49 992.36 4,024.84
0.00 3,032.48 161,220.00 974.04 4,024.84
0.00 3,050.80 158,169.20 955.61 4,024.84
0.00 3,069.23 155,099.97 937.06 4,024.84
0.00 3,087.78 152,012.19 918.41 4,024.84
0.00 3,106.43 148,905.76 899.64 4,024.84
0.00 3,125.20 145,780.56 880.76 4,024.84
0.00 3,144.08 142,636.47 861.76 4,024.84
0.00 3,163.08 139,473.40 842.65 4,024.84
0.00 3,182.19 136,291.21 823.43 4,024.84
0.00 3,201.41 133,089.79 804.08 4,024.84
0.00 3,220.76 129,869.04 784.63 4,024.84
0.00 3,240.21 126,628.82 765.05 4,024.84
0.00 3,259.79 123,369.03 745.35 4,024.84
0.00 3,279.49 120,089.55
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
725.54 4,024.84
0.00 3,299.30 116,790.25 705.61 4,024.84
0.00 3,319.23 113,471.01 685.55 4,024.84
0.00 3,339.29 110,131.73 665.38 4,024.84
0.00 3,359.46 106,772.27 645.08 4,024.84
0.00 3,379.76 103,392.51 624.66 4,024.84
0.00 3,400.18 99,992.33 604.12 4,024.84
0.00 3,420.72 96,571.61 583.45 4,024.84
0.00 3,441.39 93,130.23 562.66 4,024.84
0.00 3,462.18 89,668.05 541.74 4,024.84
0.00 3,483.10 86,184.95 520.70 4,024.84
0.00 3,504.14 82,680.81 499.53 4,024.84
0.00 3,525.31 79,155.50 478.23 4,024.84
0.00 3,546.61 75,608.89 456.80 4,024.84
0.00 3,568.04 72,040.86 435.25 4,024.84
0.00 3,589.59 68,451.27 413.56 4,024.84
0.00 3,611.28 64,839.99 391.74 4,024.84
0.00 3,633.10 61,206.89 369.79 4,024.84
0.00 3,655.05 57,551.84 347.71 4,024.84
0.00 3,677.13 53,874.71 325.49 4,024.84
0.00 3,699.35 50,175.36 303.14 4,024.84
0.00 3,721.70 46,453.66 280.66 4,024.84
0.00 3,744.18 42,709.48 258.04 4,024.84
0.00 3,766.80 38,942.68 235.28 4,024.84
0.00 3,789.56 35,153.12 212.38 4,024.84
0.00 3,812.46 31,340.66 189.35 4,024.84
0.00 3,835.49 27,505.17 166.18 4,024.84
0.00 3,858.66 23,646.51 142.86 4,024.84
0.00 3,881.98 19,764.53 119.41 4,024.84
0.00 3,905.43 15,859.10 95.82 4,024.84
0.00 3,929.02 11,930.08 72.08 4,024.84
0.00 3,952.76 7,977.31 48.20 4,024.84
0.00 3,976.64 4,000.67 24.17 4,024.84
0.00 4,000.67 0.00 858,942.42 1,448,942.42 - 590,000.00
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
MORTGAGE TERMS
PAYMENT CALCULATOR
Month
Rate
Amount:
590,000 rate
0.54%
Years:
15 nper
180 1
0.54%
Annual Rate:
6.50%
pv
590,000 2
0.54%
fv
- 3
0.54%
type
0
4
0.54%
5
0.54%
PMT
($5,139.53)
6
0.54%
7
0.54%
8
0.54%
NPER CALCULATOR
9
0.54%
rate
0.54%
10
0.54%
pmt
(5,140)
11
0.54%
pv
590,000 12
0.54%
fv
- 13
0.54%
type
0
14
0.54%
15
0.54%
NPER
180.00 16
0.54%
17
0.54%
18
0.54%
19
0.54%
20
0.54%
21
0.54%
22
0.54%
23
0.54%
24
0.54%
25
0.54%
26
0.54%
27
0.54%
28
0.54%
29
0.54%
30
0.54%
31
0.54%
32
0.54%
33
0.54%
34
0.54%
35
0.54%
36
0.54%
37
0.54%
38
0.54%
39
0.54%
40
0.54%
41
0.54%
42
0.54%
43
0.54%
44
0.54%
45
0.54%
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
46
0.54%
47
0.54%
48
0.54%
49
0.54%
50
0.54%
51
0.54%
52
0.54%
53
0.54%
54
0.54%
55
0.54%
56
0.54%
57
0.54%
58
0.54%
59
0.54%
60
0.54%
61
0.54%
62
0.54%
63
0.54%
64
0.54%
65
0.54%
66
0.54%
67
0.54%
68
0.54%
69
0.54%
70
0.54%
71
0.54%
72
0.54%
73
0.54%
74
0.54%
75
0.54%
76
0.54%
77
0.54%
78
0.54%
79
0.54%
80
0.54%
81
0.54%
82
0.54%
83
0.54%
84
0.54%
85
0.54%
86
0.54%
87
0.54%
88
0.54%
89
0.54%
90
0.54%
91
0.54%
92
0.54%
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
93
0.54%
94
0.54%
95
0.54%
96
0.54%
97
0.54%
98
0.54%
99
0.54%
100
0.54%
101
0.54%
102
0.54%
103
0.54%
104
0.54%
105
0.54%
106
0.54%
107
0.54%
108
0.54%
109
0.54%
110
0.54%
111
0.54%
112
0.54%
113
0.54%
114
0.54%
115
0.54%
116
0.54%
117
0.54%
118
0.54%
119
0.54%
120
0.54%
121
0.54%
122
0.54%
123
0.54%
124
0.54%
125
0.54%
126
0.54%
127
0.54%
128
0.54%
129
0.54%
130
0.54%
131
0.54%
132
0.54%
133
0.54%
134
0.54%
135
0.54%
136
0.54%
137
0.54%
138
0.54%
139
0.54%
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
140
0.54%
141
0.54%
142
0.54%
143
0.54%
144
0.54%
145
0.54%
146
0.54%
147
0.54%
148
0.54%
149
0.54%
150
0.54%
151
0.54%
152
0.54%
153
0.54%
154
0.54%
155
0.54%
156
0.54%
157
0.54%
158
0.54%
159
0.54%
160
0.54%
161
0.54%
162
0.54%
163
0.54%
164
0.54%
165
0.54%
166
0.54%
167
0.54%
168
0.54%
169
0.54%
170
0.54%
171
0.54%
172
0.54%
173
0.54%
174
0.54%
175
0.54%
176
0.54%
177
0.54%
178
0.54%
179
0.54%
180
0.54%
TOTALS:
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Int. Expense
Mortgage Pmt
Extra Pmt
Principal Pmt
Carrying Value
590,000.00 3,195.83 5,139.53
0
1,943.70 588,056.30 3,185.30 5,139.53
0
1,954.23 586,102.07 3,174.72 5,139.53
0
1,964.81 584,137.26 3,164.08 5,139.53
0
1,975.46 582,161.80 3,153.38 5,139.53
0
1,986.16 580,175.64 3,142.62 5,139.53
0
1,996.92 578,178.73 3,131.80 5,139.53
0
2,007.73 576,171.00 3,120.93 5,139.53
0
2,018.61 574,152.39 3,109.99 5,139.53
0
2,029.54 572,122.85 3,099.00 5,139.53
0
2,040.53 570,082.31 3,087.95 5,139.53
0
2,051.59 568,030.73 3,076.83 5,139.53
0
2,062.70 565,968.03 3,065.66 5,139.53
0
2,073.87 563,894.15 3,054.43 5,139.53
0
2,085.11 561,809.05 3,043.13 5,139.53
0
2,096.40 559,712.64 3,031.78 5,139.53
0
2,107.76 557,604.89 3,020.36 5,139.53
0
2,119.17 555,485.71 3,008.88 5,139.53
0
2,130.65 553,355.06 2,997.34 5,139.53
0
2,142.19 551,212.87 2,985.74 5,139.53
0
2,153.80 549,059.07 2,974.07 5,139.53
0
2,165.46 546,893.61 2,962.34 5,139.53
0
2,177.19 544,716.41 2,950.55 5,139.53
0
2,188.99 542,527.43 2,938.69 5,139.53
0
2,200.84 540,326.58 2,926.77 5,139.53
0
2,212.76 538,113.82 2,914.78 5,139.53
0
2,224.75 535,889.07 2,902.73 5,139.53
0
2,236.80 533,652.27 2,890.62 5,139.53
0
2,248.92 531,403.35 2,878.43 5,139.53
0
2,261.10 529,142.25 2,866.19 5,139.53
0
2,273.35 526,868.91 2,853.87 5,139.53
0
2,285.66 524,583.25 2,841.49 5,139.53
0
2,298.04 522,285.21 2,829.04 5,139.53
0
2,310.49 519,974.72 2,816.53 5,139.53
0
2,323.00 517,651.71 2,803.95 5,139.53
0
2,335.59 515,316.13 2,791.30 5,139.53
0
2,348.24 512,967.89 2,778.58 5,139.53
0
2,360.96 510,606.93 2,765.79 5,139.53
0
2,373.75 508,233.19 2,752.93 5,139.53
0
2,386.60 505,846.58 2,740.00 5,139.53
0
2,399.53 503,447.05 2,727.00 5,139.53
0
2,412.53 501,034.52 2,713.94 5,139.53
0
2,425.60 498,608.93 2,700.80 5,139.53
0
2,438.74 496,170.19 2,687.59 5,139.53
0
2,451.94 493,718.25 2,674.31 5,139.53
0
2,465.23 491,253.02
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
2,660.95 5,139.53
0
2,478.58 488,774.44 2,647.53 5,139.53
0
2,492.01 486,282.43 2,634.03 5,139.53
0
2,505.50 483,776.93 2,620.46 5,139.53
0
2,519.08 481,257.86 2,606.81 5,139.53
0
2,532.72 478,725.14 2,593.09 5,139.53
0
2,546.44 476,178.70 2,579.30 5,139.53
0
2,560.23 473,618.46 2,565.43 5,139.53
0
2,574.10 471,044.36 2,551.49 5,139.53
0
2,588.04 468,456.32 2,537.47 5,139.53
0
2,602.06 465,854.26 2,523.38 5,139.53
0
2,616.16 463,238.10 2,509.21 5,139.53
0
2,630.33 460,607.78 2,494.96 5,139.53
0
2,644.57 457,963.20 2,480.63 5,139.53
0
2,658.90 455,304.30 2,466.23 5,139.53
0
2,673.30 452,631.00 2,451.75 5,139.53
0
2,687.78 449,943.22 2,437.19 5,139.53
0
2,702.34 447,240.88 2,422.55 5,139.53
0
2,716.98 444,523.90 2,407.84 5,139.53
0
2,731.70 441,792.20 2,393.04 5,139.53
0
2,746.49 439,045.71 2,378.16 5,139.53
0
2,761.37 436,284.34 2,363.21 5,139.53
0
2,776.33 433,508.01 2,348.17 5,139.53
0
2,791.37 430,716.65 2,333.05 5,139.53
0
2,806.48 427,910.16 2,317.85 5,139.53
0
2,821.69 425,088.48 2,302.56 5,139.53
0
2,836.97 422,251.51 2,287.20 5,139.53
0
2,852.34 419,399.17 2,271.75 5,139.53
0
2,867.79 416,531.38 2,256.21 5,139.53
0
2,883.32 413,648.06 2,240.59 5,139.53
0
2,898.94 410,749.12 2,224.89 5,139.53
0
2,914.64 407,834.48 2,209.10 5,139.53
0
2,930.43 404,904.05 2,193.23 5,139.53
0
2,946.30 401,957.74 2,177.27 5,139.53
0
2,962.26 398,995.48 2,161.23 5,139.53
0
2,978.31 396,017.17 2,145.09 5,139.53
0
2,994.44 393,022.73 2,128.87 5,139.53
0
3,010.66 390,012.07 2,112.57 5,139.53
0
3,026.97 386,985.11 2,096.17 5,139.53
0
3,043.36 383,941.74 2,079.68 5,139.53
0
3,059.85 380,881.89 2,063.11 5,139.53
0
3,076.42 377,805.47 2,046.45 5,139.53
0
3,093.09 374,712.38 2,029.69 5,139.53
0
3,109.84 371,602.54 2,012.85 5,139.53
0
3,126.69 368,475.85 1,995.91 5,139.53
0
3,143.62 365,332.23 1,978.88 5,139.53
0
3,160.65 362,171.58 1,961.76 5,139.53
0
3,177.77 358,993.81
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
1,944.55 5,139.53
0
3,194.98 355,798.83 1,927.24 5,139.53
0
3,212.29 352,586.54 1,909.84 5,139.53
0
3,229.69 349,356.85 1,892.35 5,139.53
0
3,247.18 346,109.66 1,874.76 5,139.53
0
3,264.77 342,844.89 1,857.08 5,139.53
0
3,282.46 339,562.43 1,839.30 5,139.53
0
3,300.24 336,262.20 1,821.42 5,139.53
0
3,318.11 332,944.08 1,803.45 5,139.53
0
3,336.09 329,608.00 1,785.38 5,139.53
0
3,354.16 326,253.84 1,767.21 5,139.53
0
3,372.33 322,881.51 1,748.94 5,139.53
0
3,390.59 319,490.92 1,730.58 5,139.53
0
3,408.96 316,081.97 1,712.11 5,139.53
0
3,427.42 312,654.54 1,693.55 5,139.53
0
3,445.99 309,208.55 1,674.88 5,139.53
0
3,464.65 305,743.90 1,656.11 5,139.53
0
3,483.42 302,260.48 1,637.24 5,139.53
0
3,502.29 298,758.19 1,618.27 5,139.53
0
3,521.26 295,236.93 1,599.20 5,139.53
0
3,540.33 291,696.60 1,580.02 5,139.53
0
3,559.51 288,137.09 1,560.74 5,139.53
0
3,578.79 284,558.30 1,541.36 5,139.53
0
3,598.18 280,960.12 1,521.87 5,139.53
0
3,617.67 277,342.45 1,502.27 5,139.53
0
3,637.26 273,705.19 1,482.57 5,139.53
0
3,656.96 270,048.23 1,462.76 5,139.53
0
3,676.77 266,371.46 1,442.85 5,139.53
0
3,696.69 262,674.77 1,422.82 5,139.53
0
3,716.71 258,958.06 1,402.69 5,139.53
0
3,736.84 255,221.21 1,382.45 5,139.53
0
3,757.09 251,464.13 1,362.10 5,139.53
0
3,777.44 247,686.69 1,341.64 5,139.53
0
3,797.90 243,888.79 1,321.06 5,139.53
0
3,818.47 240,070.33 1,300.38 5,139.53
0
3,839.15 236,231.17 1,279.59 5,139.53
0
3,859.95 232,371.22 1,258.68 5,139.53
0
3,880.86 228,490.37 1,237.66 5,139.53
0
3,901.88 224,588.49 1,216.52 5,139.53
0
3,923.01 220,665.48 1,195.27 5,139.53
0
3,944.26 216,721.22 1,173.91 5,139.53
0
3,965.63 212,755.59 1,152.43 5,139.53
0
3,987.11 208,768.48 1,130.83 5,139.53
0
4,008.70 204,759.78 1,109.12 5,139.53
0
4,030.42 200,729.36 1,087.28 5,139.53
0
4,052.25 196,677.11 1,065.33 5,139.53
0
4,074.20 192,602.91 1,043.27 5,139.53
0
4,096.27 188,506.64
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
1,021.08 5,139.53
0
4,118.46 184,388.19 998.77 5,139.53
0
4,140.76 180,247.42 976.34 5,139.53
0
4,163.19 176,084.23 953.79 5,139.53
0
4,185.74 171,898.49 931.12 5,139.53
0
4,208.42 167,690.07 908.32 5,139.53
0
4,231.21 163,458.86 885.40 5,139.53
0
4,254.13 159,204.73 862.36 5,139.53
0
4,277.17 154,927.55 839.19 5,139.53
0
4,300.34 150,627.21 815.90 5,139.53
0
4,323.64 146,303.57 792.48 5,139.53
0
4,347.06 141,956.52 768.93 5,139.53
0
4,370.60 137,585.92 745.26 5,139.53
0
4,394.28 133,191.64 721.45 5,139.53
0
4,418.08 128,773.56 697.52 5,139.53
0
4,442.01 124,331.55 673.46 5,139.53
0
4,466.07 119,865.48 649.27 5,139.53
0
4,490.26 115,375.22 624.95 5,139.53
0
4,514.58 110,860.63 600.50 5,139.53
0
4,539.04 106,321.59 575.91 5,139.53
0
4,563.62 101,757.97 551.19 5,139.53
0
4,588.34 97,169.63 526.34 5,139.53
0
4,613.20 92,556.43 501.35 5,139.53
0
4,638.19 87,918.24 476.22 5,139.53
0
4,663.31 83,254.93 450.96 5,139.53
0
4,688.57 78,566.36 425.57 5,139.53
0
4,713.97 73,852.40 400.03 5,139.53
0
4,739.50 69,112.90 374.36 5,139.53
0
4,765.17 64,347.73 348.55 5,139.53
0
4,790.98 59,556.74 322.60 5,139.53
0
4,816.93 54,739.81 296.51 5,139.53
0
4,843.03 49,896.78 270.27 5,139.53
0
4,869.26 45,027.52 243.90 5,139.53
0
4,895.63 40,131.89 217.38 5,139.53
0
4,922.15 35,209.74 190.72 5,139.53
0
4,948.81 30,260.92 163.91 5,139.53
0
4,975.62 25,285.30 136.96 5,139.53
0
5,002.57 20,282.73 109.86 5,139.53
0
5,029.67 15,253.06 82.62 5,139.53
0
5,056.91 10,196.15 55.23 5,139.53
0
5,084.30 5,111.84 27.69 5,139.53
0
5,111.84 0.00 335,116.02 925,116.02 - 590,000.00
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Home price:
$ 590,000.00 Years in the home:
7
Investment rate:
11%
R/E growth rate:
4.5%
Future home value:
Additional monthly costs:
765.00 30-year Mortgage
15-year Mortgage
PRESENT VALUE
PRESENT VALUE
rate
0.92%
rate
0.92%
nper
84
nper
84
pmt
(4,790)
pmt
(5,905)
fv
263,081 fv
418,967 type
0
type
0
PV
$157,511.94 PV
$150,200.30
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Rental payment:
$ 2,800.00 Years in the home:
7
Investment rate:
11%
Rent
PRESENT VALUE
rate
0.92%
nper
84
pmt
(2,800)
fv
- type
0
PV
$163,528.13
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Documents
Related Questions
A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 8 percent. Use Appendix A and Appendix C to answer the
questions. Round your answers to the nearest dollar.
a. How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 40?
$
b. How much additional money will be in the account if the saver defers retirement until age 70 and continues the contributions?
c. How much additional money will be in the account if the saver discontinues the contributions at age 65 but does not retire until age 70?
2$
arrow_forward
To help pay for an estimated $35000 in college expenses, parents make a deposit into a college fund at the beginning of each half-year over the course of 17 years. If this fund earns 6% interest, compounded semiannually, how large must these deposits be in order to pay for the estimated expenses? Round your answer to the nearest cent.
arrow_forward
A self-employed person deposits $4,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 7 percent. Use Appendix A and Appendix C to answer the questions. Round your answers to the nearest dollar.
How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 50?$
How much additional money will be in the account if the saver defers retirement until age 70 and continues the contributions?$
How much additional money will be in the account if the saver discontinues the contributions at age 65 but does not retire until age 70
arrow_forward
Your parents contribute $180 monthly to a college savings plan for you that earns 5.4% compounded monthly. The first deposit was exactly 18 years ago. Find the account balance immediately after today’s monthly deposit and crediting of interest.
a. $69,456
b. $65,975
c. $45,589
d. $59,689
e. $72,096
arrow_forward
The expenses and income of an individual
are given in table form to the right. Find the
net monthly cash flow (it could be positive
or negative). Assume salaries and wages
are after taxes. When you need to convert
between weeks and months, assume that
1 month = 4 weeks.
Income
Part-time job: $800/month
College fund from grandparents:
$350/month
Scholarship: $6600/year
The net monthly cash flow is $ (Round to the nearest dollar as needed.)
Expenses
Rent: $500/month
Groceries: $50/week
Tuition and fees: $3600 twice a
year
Incidentals: $90/week
arrow_forward
Answer/fill in the rest of the questions
arrow_forward
Lyndsay puts $1,000.00 into a savings account that pays 3% interest, compounded annually. As the interest is earned, she leaves it in her account. At the end of the third year, what is her balance?
Group of answer choices
$1,030.00
$1,090.00
$1,092.73
$1,095.95
arrow_forward
Need help
arrow_forward
Helen contributed $500 at the end of every month for the past 5 years into an RRSP account, earning 3.8% p.a. compounded quarterly. If she leaves the accumulated contributions for another 4 years in the RRSP at the same rate of interest
How much will Helen have in total in her RRSP account?
How much did she contribute?
How much will be the interest?
arrow_forward
Rebecca is making quarterly contributions of of $250 to her savings account which pays interest at the APR
of 6.7%, compounded quarterly. Right after Rebecca makes her 52nd contribution, the bank changes the
APR to 7.7% and Rebecca makes 43 more $250 contributions. What is Rebecca's balance right after her last
contribution?
$
Submit Question
arrow_forward
I need more assistance with this sub-part to the question please.
arrow_forward
I need help with parts C, D, and E, please!
A young couple buying their first home borrow $90,000 for 30 years at 7.5%, compounded monthly, and make payments of $629.29. After 4 years, they are able to make a one-time payment of $2,000 along with their 48th payment.
a) Find the unpaid balance immediately after they pay the extra $2,000 and their 48th payment. ANSWER: $84274.14(b) How many regular payments of $629.29 will amortize the unpaid balance from part (a)? ANSWER: 291.14 payments
c) How much will the remaining debt be after the number of full payment periods in part (b) is made and how much extra must be included with the last full payment to pay off the debt?
d) How much will the couple PAY over the life of the loan by paying the extra $2,000?
e) How much will the couple SAVE over the life of the loan by paying the extra $2,000?
arrow_forward
Please provide Handwritten answer.
Algebra
Bianca is making quarterly contributions of $360 to her savings account which pays 6% interest compounded quarterly. Right after Bianca makes her 48th contribution, the bank changes the interest rate to 7.1% and Bianca makes 51 more $360 contributions. What is Bianca's balance right after her last contribution?
arrow_forward
A man borrows $60,000 to help pay for his college expenses. He intends to pay off the loan with regular monthly payments over the next 20 years. Find the monthly payment if he is being charged 4.7% interest per year, compounded monthly.
Give the answer to 2 decimal places, and do not use the $ sign in the answer box.
The monthly payment is Blank 1. Calculate the answer by read surrounding text. dollars.
arrow_forward
Assume that the prescribed rate for each quarter last year was 4%. Gerry received a loan from his employer of $60,000 at
2%, which he put towards a rental property he purchased for $120,000. He paid the balance in cash. What was his taxable
benefit last year as a result of the loan that he obtained from his employer?
a) $0
b) $600
c) $1,200
d) $2,400
Alan Peterson made a $2,000 RRSP contribution this year, and his marginal tax rate is 29%. Next year, Alan expects to get
a significant raise, such that his marginal tax rate will increase to 43%. The Income Tax Act allows him to deduct his RRSP
contribution this year, or to carry the deduction forward to future years. When should he claim the deduction to optimize
the tax benefits?
a) He should claim the deduction this year.
b) He should claim the deduction next year.
c) It does not matter when he claims the deduction because it will result in the same tax reduction in either year.
d) He should split the deduction between his tax returns…
arrow_forward
At the beginning of your freshman year, your favorite aunt and uncle deposit $10,000 intoa 4-year bank certificate of deposit (CD) that pays 5% annual interest. You will receive themoney in the account (including the accumulated interest) if you graduate with honors in4 years. How much will there be in the account after 4 years?
arrow_forward
Sandy Kupchack just graduated from State University with a bachelor’s degree in history. During her four years atthe university, Sandy accumulated $12,000 in student loans. She asks for your help in determining the amount ofthe quarterly loan payment. She tells you that the loan must be paid back in five years and that the annual interestrate is 8%. Payments begin in three months.Required:Determine Sandy’s quarterly loan payment.
arrow_forward
Jack made monthly contributions of $200 to his son's RESP for a total of 12 years.
The contributions as well as the CESG was invested at the end of every month in a
fund that earned a return of 7% compounded monthly. If Jack's son Emmanuel
decides not to attend post-secondary education, and Jack makes a withdrawal from
the RESP account in full, how much of that withdrawal will be Accumulated Income
Payment?
56,230
19,367
O 25,127
28,800
arrow_forward
Gabriel Godwin purchases a tiny home for his elderly mother. After a large down payment, he finances $88,600 at 5% for 10 years. Prepare a repayment schedule for the first two payments.
payment number
total payment
interest payment
principal payment
remaining balance
arrow_forward
I want to correct answer
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Related Questions
- A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 8 percent. Use Appendix A and Appendix C to answer the questions. Round your answers to the nearest dollar. a. How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 40? $ b. How much additional money will be in the account if the saver defers retirement until age 70 and continues the contributions? c. How much additional money will be in the account if the saver discontinues the contributions at age 65 but does not retire until age 70? 2$arrow_forwardTo help pay for an estimated $35000 in college expenses, parents make a deposit into a college fund at the beginning of each half-year over the course of 17 years. If this fund earns 6% interest, compounded semiannually, how large must these deposits be in order to pay for the estimated expenses? Round your answer to the nearest cent.arrow_forwardA self-employed person deposits $4,000 annually in a retirement account (called a Keogh or H.R. 10 plan) that earns 7 percent. Use Appendix A and Appendix C to answer the questions. Round your answers to the nearest dollar. How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 50?$ How much additional money will be in the account if the saver defers retirement until age 70 and continues the contributions?$ How much additional money will be in the account if the saver discontinues the contributions at age 65 but does not retire until age 70arrow_forward
- Your parents contribute $180 monthly to a college savings plan for you that earns 5.4% compounded monthly. The first deposit was exactly 18 years ago. Find the account balance immediately after today’s monthly deposit and crediting of interest. a. $69,456 b. $65,975 c. $45,589 d. $59,689 e. $72,096arrow_forwardThe expenses and income of an individual are given in table form to the right. Find the net monthly cash flow (it could be positive or negative). Assume salaries and wages are after taxes. When you need to convert between weeks and months, assume that 1 month = 4 weeks. Income Part-time job: $800/month College fund from grandparents: $350/month Scholarship: $6600/year The net monthly cash flow is $ (Round to the nearest dollar as needed.) Expenses Rent: $500/month Groceries: $50/week Tuition and fees: $3600 twice a year Incidentals: $90/weekarrow_forwardAnswer/fill in the rest of the questionsarrow_forward
- Lyndsay puts $1,000.00 into a savings account that pays 3% interest, compounded annually. As the interest is earned, she leaves it in her account. At the end of the third year, what is her balance? Group of answer choices $1,030.00 $1,090.00 $1,092.73 $1,095.95arrow_forwardNeed helparrow_forwardHelen contributed $500 at the end of every month for the past 5 years into an RRSP account, earning 3.8% p.a. compounded quarterly. If she leaves the accumulated contributions for another 4 years in the RRSP at the same rate of interest How much will Helen have in total in her RRSP account? How much did she contribute? How much will be the interest?arrow_forward
- Rebecca is making quarterly contributions of of $250 to her savings account which pays interest at the APR of 6.7%, compounded quarterly. Right after Rebecca makes her 52nd contribution, the bank changes the APR to 7.7% and Rebecca makes 43 more $250 contributions. What is Rebecca's balance right after her last contribution? $ Submit Questionarrow_forwardI need more assistance with this sub-part to the question please.arrow_forwardI need help with parts C, D, and E, please! A young couple buying their first home borrow $90,000 for 30 years at 7.5%, compounded monthly, and make payments of $629.29. After 4 years, they are able to make a one-time payment of $2,000 along with their 48th payment. a) Find the unpaid balance immediately after they pay the extra $2,000 and their 48th payment. ANSWER: $84274.14(b) How many regular payments of $629.29 will amortize the unpaid balance from part (a)? ANSWER: 291.14 payments c) How much will the remaining debt be after the number of full payment periods in part (b) is made and how much extra must be included with the last full payment to pay off the debt? d) How much will the couple PAY over the life of the loan by paying the extra $2,000? e) How much will the couple SAVE over the life of the loan by paying the extra $2,000?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you