Amortgage of $173,000 is to be repaid by making payments of $990 at the end of each month if interest is 4 03% per annum compounded semi-annually, what is the term of the mortgage? State your answer in cyears and months (hrom 0 to 11 months)The term of the mortgage is year(s) and month(s)

Any periodic payment made to repay a loan or accumulate a sum for a specific purpose is regarded as…

Answered: A mortgage of $173,000 is to be repaid…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Ife takes out a 3 year mortgage for $1,125,000 at an interest rate of i(2) = 4.500%. The amortization period is 30 years and she will make weekly payments. What is the outstanding balance at the end of 1 year? O a. $1,084,582.78 O b. $1,106,717.12 O c. $1,029,246.92 O d. $1,040,314.09 e. $1,128,851.46
A mortgage is repaid by making payments of $1800 at the end of every month for 25 years. If interest on the loan is 3.75% compounded semi-annually, what was the principal of the mortgage? O A. $359,249.09 O B. $351,181.15 O C. $352,579.09 O D. $350,899.29 O E. $355,145.23
omplete the first month of the amortization schedule for the following fixed rate mortgage. Round the answer to the nearest cent. Mortgage: $79,000 Interest rate: 8.5% Term of loan: 15 years Amortization Schedule Payment Total Interest Principal Balance of Number Payment Payment Payment Principal 1 $777.94 (a) _____ (b) _____ (c) _____
Given the following information on a 30-year fully-amortizing mortgage, use the amortization table function on your financial calculator to determine the portion of the monthly payment that goes to principal in 84th payment. Loan amount: $250.000; Annual interest rate: 6%; Monthly payment: $1,498.88.
Complete the next line of the schedule.
Need all three parts
Given the following information of the mortgage pool that backs a MPT, what is the regular scheduled payment in month 1 of the security? Use WAC as the mortgage rate and WAM as the number of periods for your calculations. Round your final answer to two decimals. • 30 year FRM, fully amortizing, monthly payments • Loans seasoned for 3 months before entering pool • WAM: 357 • WAC: 4% • Servicer/Guarantee fee: 0.55% • Starting pool balance: 250,342,967 • Prepayment assumption: 75% PSA
Make an amortization table to show the first two payments for the mortgage. Amount of Annual interest rate Years in mortgage Monthly payment mortgage $110,000 5.25% 30 $607.20 Monthly payment End-of-month principal Month Interest Principal 1 S607.20 2 $607.20 2$ (Round to the nearest cent as needed.)
Make an amortization table to show the first two payments for the mortgage. Amount of Annual interest rate Years in mortgage Monthly payment mortgage $402,593 5.00% 35 S2031.84 Monthly End-of-month Month Interest Principal payment principal 1 $2031.84 2 $2031.84 (Round to the nearest cent as needed.)
A $347,500 mortgage at 4.90% compounded semi-annually was settled with monthly payments of $2, 525. a. What is the amortization period for the mortgage? b. How much will the amortization period be shortened by if weekly payments of $1300 are made instead ca the monthly payments? a) 7 A▾ BI EE
Make an amortization table to show the first two payments for the mortgage. Amount of mortgage $89,000 Month Annual interest rate Years in mortgage Monthly payment 5.50% Monthly payment $546.46 Interest 1 2 $546.46 (Round to the nearest cent as needed.) 25 Principal $546.46 End-of-month principal
A price level adjusted mortgage (PLAM) is made with the following terms:Amount $95,000Initial interest rate 4 percentTerm 30 yearsPoints 6 percentPayments to be reset at the beginning of each year.Assuming inflation is expected to increase at the rate of 6 percent per year for the next five years:a. Compute the payments at the beginning of each year (BOY).b. What is the loan balance at the end of the fifth year?c. What is the yield to the lender on such a mortgage?

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A mortgage of $173,000 is to be repaid by making payments of $996 at the end of each month f interest is 4 00% per anum compounded sees-annually, what is the term of the mortgage? State your answer in years and months om 0 to 11 months) The term of the morgage is year(s) and month(s)