A$137,900 mortgage for 20 years for a new home is obtained at the rate of 6.8% compounded monthly Find (a) the monthly payment, (b) the interest in the first payment, (c) the principal repaid in the first payment, and (d) the finance charge (a) The monthly payment on the mortgage is S (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.) (b) The interest in the first payment is S (Round the final answer to two decimal places as needed Round all intermediate values to six decimal places as needed.) (c) The principal repaid in the first payment is S (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.) (d) The finance charge is $ (Round to two decimal places as needed.)

A$137,900 mortgage for 20 years for a new home is obtained at the rate of 6.8% compounded monthly Find (a) the monthly payment, (b) the interest in the first payment, (c) the principal repaid in the first payment, and (d) the finance charge (a) The monthly payment on the mortgage is S (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.) (b) The interest in the first payment is S (Round the final answer to two decimal places as needed Round all intermediate values to six decimal places as needed.) (c) The principal repaid in the first payment is S (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.) (d) The finance charge is $ (Round to two decimal places as needed.)

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 loan of $1500 is to be repaid by annual payments of $250 to commence at the end of the fifth year and to continue thereafter for as long as necessary. Find the amount of the final payment, if the final payment is to be larger than the regular payments. Assume i = 5%. Round your answer to two decimal places.
For the following loan, calculate the monthly payment and then complete the partial amortization schedule for the first three months. A home mortgage of $161,000 with a fixed APR of 3% for 30 years. Round all final answers to the nearest cent as needed. a) The monthly payment including principal and interest would be $ b) Complete the partial amortization table for the mortgage. End of.. Month 1 Month 2 Month 3 Interest Payment Toward Principal $ Outstanding Balance GA
Consider a home mortgage of $125,000 at a fixed APR of 4.5% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. ..... a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
Calculate the monthly payments for each of the following $119,600 mortgage loans. Assume no prepayments. a. 30-year fixed at 7.25 percent b. 15-year fixed at 6.25 percent c. 20-year fixed at 6.75 percent Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: a. The monthly payment, PMT, on the 30-year loan is $ (Round to the nearest cent.)
Consider a 30-year home mortgage of $100,000 at 6% per year. What is the monthly payment? Use Theorem 1 as attached to make an amortization schedule of the first 6 months: Month (k) Principal P(k) Interest I(k) Balance due B(k) 1 2 3 4 5 6 where P(k) is the amount paid to the principal in the k’th payment, I(k) is the amount paid to interest in the k’th payment, B(k) is the balance due after the k’th payment.
Consider a home mortgage of $225,000 at a fixed APR of 6% for 30 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total amount paid over the term of the loan is $ (Round to the nearest cent as needed.) c. Of the total amount paid,% is paid toward the principal, and % is paid for interest. (Round to one decimal place as needed.)
Investigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of $16,000 at 9 7/8% interest if the term is the following. (Round your answers to the nearest cent.) (a) three years payment total interest (b) four years payment $ total interest $ (c) five years payment $ total interest $
Consider a home mortgage of $150,000 at a fixed APR of 6% for 30 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total payment over the term of the loan is $ (Round to the nearest cent as needed.) c. Of the total payment over the term of the loan, (Round to the nearest tenth as needed.) % is paid toward the principal and % is paid toward interest.
3. A $310,000 house in Hamilton was purchased with a down payment of 20.00% of its value and a 20 year mortgage was taken for the balance. The negotiated fixed interest rate was 3.75% compounded semi-annually for a five-year term, with repayments made at the end of every month. a. Calculate the size of the monthly payments. b. Complete the partial mortgage schedule for the five-year term, rounding the answers to the nearest cent.(see image attached) Kindly keep all the decimals for all the procedures, DO NOT ROUND

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