A partially amortizing CAM (constant amortizing mortgage) loan is made for $125,000 at 6percent interest for 15 years, with monthly compounding. There is a S25,000 balloon after 15years.EHMonthly16MonthOpening BalanceРаymentMonthly Interest Amortization Ending Balance9781988299838410010185

Loan amount is $125,000 Interest rate 6% compounded monthly Time period is 15 years Baloon payment…

Answered: A partially amortizing CAM (constant…

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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A house sells for $309,500 and a 4% down payment is made. A mortgage is secured at 4% for 20 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $297,120 and the monthly payment is $1800.55 . Part: 0 / 3 0 of 3 Parts Complete Part 1 of 3 Payment number Interest Payment on Principal Balance of Loan 1 $ $ $ Procedure for Computing an Amortization Schedule Step 1 Find the interest for the first month. Use =IPrt , where =t112 . Enter this value in a column labeled Interest. Step 2 Subtract the interest from the monthly payment to get the amount paid on the principal. Enter this amount in a column labeled Payment on Principal. Step 3 Subtract the amount of the payment on principal found in step 2 from the principal to…
A mortgage has a principal balance of $385,000, an interest rate of 4.45% compounded semi - annually not in advance. The amortization is 15 years. What is the accelerated bi-weekly payment amount? a) $674.61 b) $1,349.78 c) $1,463.71 d) $ 2,927.41
Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 60 $ fill in the blank 61 $ fill in the blank 62 $ fill in the blank 63 $ fill in the blank 64 2 $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 $ fill in the blank 69 3 $ fill in the blank 70 $ fill in the blank 71 $ fill in the blank 72 $ fill in the blank 73 $ fill in the blank 74 4 $ fill in the blank 75 $ fill in the blank 76 $ fill in the blank 77 $ fill in the blank 78 $ fill in the blank 79
A store amortizes a $75,000 loan at 10% compounded quarterly with quartlerly payments of $2985.72 for 10 years. How much will be the unpaid balance after 7 years?
Loan Repayment A loan of $10,000 is to beamortized with quarterly payments over 4 years. Ifthe interest on the loan is 8% per year, paid on theunpaid balance,a. What is the interest rate charged each quarter onthe unpaid balance? b. How many payments are made to repay the loan?c. What payment is required quarterly to amortizethe loan?
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) _____
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.)
A loan of $34, 200.00 at 5.50% compounded semi - annually is to be repaid with payments at the end of every 6 months. The loan was settled in 5 years. a. Calculate the size of the periodic payment. $3, 645.25 $4,537.24 $ 3,958.30 $4,341.38 b. Calculate the total interest paid. $5, 383.00 $39,583.00 $1,424.70 $9,341.30
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $130,000 for 3 years at 10% compounded annually Period Payment Interest Balance Reduction Unpaid Balance $130, 000 1 $ $ $ $2$$$$3$ $$ $0.00
A loan of $24,800.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 5 years. a. Calculate the size of the periodic payment. $2,606.63 $3,211.71 $2,833.62 $3,111.33 b. Calculate the total interest paid. $3,536.20 $28,336.20 $702.58 $6,369.82

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A partially amortizing CAM (constant amortizing mortgage) loan is made for $125,000 at 6 percent interest for 15 years, with monthly compounding. There is a S$25,000 balloon after years. E F G Monthly 16 Month Opening Balance Payment Monthly Interest Amortization Ending Bal: 97 81 98 82