### Table: Interest Rates for Various Time PeriodsThis table provides the interest rates (%) applied over different time periods, ranging from 5 to 40 years. Each column represents the accumulated interest rate for a specific number of years, whereas each row indicates the initial annual interest rate.#### Column Descriptions:- **Interest Rate (%)**: The base interest rate applied annually.- **5 Years**: Total interest accumulated over five years.- **10 Years**: Total interest accumulated over ten years.- **15 Years**: Total interest accumulated over fifteen years.- **20 Years**: Total interest accumulated over twenty years.- **25 Years**: Total interest accumulated over twenty-five years.- **30 Years**: Total interest accumulated over thirty years.- **35 Years**: Total interest accumulated over thirty-five years.- **40 Years**: Total interest accumulated over forty years.Each cell represents the total percentage gain in a specified number of years for a given annual interest rate.#### Example Entries:- **At a 3.50% interest rate**: - 5 Years: 18.19% growth - 10 Years: 9.89% growth - 40 Years: 3.87% growth- **At a 10.00% interest rate**: - 5 Years: 21.15% growth - 20 Years: 9.90% growth - 40 Years: 8.49% growthThis table is useful for understanding how different annual interest rates compound over various time periods, aiding in financial planning and investment strategies. ## Second Mortgage Application CalculationFor the second mortgage application, calculate the percentage of appraised value and the potential credit (in $).| Appraised Value | Lender's Percentage | Percentage of Appraised Value (in $) | Balance of First Mortgage | Potential Credit (in $) ||-----------------|---------------------|--------------------------------------|---------------------------|------------------------|| $125,500 | 60% | $ | $53,200 | $ |### Explanation- **Appraised Value**: This is the estimated market value of the property, set at $125,500.- **Lender's Percentage**: The lender is willing to offer a loan based on 60% of the appraised value.- **Percentage of Appraised Value (in $)**: To find this, multiply the appraised value by the lender's percentage. This will give the maximum loan amount based on the appraised value.- **Balance of First Mortgage**: This is the remaining balance of the first mortgage, which is $53,200.- **Potential Credit (in $)**: To calculate this, subtract the balance of the first mortgage from the percentage of appraised value (in $). This represents the additional credit available for the second mortgage.This table allows you to input calculated values to determine the potential credit for a second mortgage.

Mortgage is secured loan in which the home is collateral and is paid by monthly payments that are…

Answered: Appraised Lender's Percentage of Value…

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

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Question 2 (10 points) Saved Calculate the mortgage payment for a 30-year loan on a house that cost $210,000 with APR of 3.9 %. $893.22 $ 934.21 $ 989.78 $1013.46 None of above
Continuing Case 15. Personal Balance Sheet Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income towards savings, which includes accumulating enough money towards the $10,500 down payment she needs to begin her dream of opening a cupcake café. Jamie Lee has been making regular deposits to both her regular, as well as her emergency savings account. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, entertainment and how her debt compares to her savings and assets. She realizes that she must stay on track and keep a detailed budget if she is to realize her dream of being self-employed after college graduation. Use the details below to complete Jamie Lee's personal financial plan to determine her financial position. Each answer must…
Find the mortgage balance after the first three payments on a 3030-year $170,000$⁢170,000 mortgage that was financed at an APR of 4.25%4.25% and has a monthly payment of $836.30$⁢836.30. Payment Number Interest Payment Principal Payment Mortgage Balance 11 $602.08$⁢602.08 $234.22$⁢234.22 Balance 1 22 $601.25$⁢601.25 $235.05$⁢235.05 Balance 2 33 $600.42$⁢600.42 $235.88$⁢235.88 Balance 3
Using this table as needed, calculate the required information for the mortgage. Number Table Monthly Payment (in $) Term Total Amount Interest of Loan of $1,000s Financed Factor Interest Financed Rate (years) (in $) (in $) $78,500 8.00% 30
A ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%3D0&launchUrl-https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fportal% Use the following amortization chart: Principal (loan) $88,000 Payment per $1,000 $ 5.68 Monthly mortgage payment $ 499.84 Rate of Selling price of home Down interest Years payment $ 5,000 $ 93,000 5.5% 30 What is the total cost of interest? (Do not round intermediate calculations. Round your answer to the nearest whole dollar.) Total cost of interest acer
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ences Rental Costs. Annual rent Insurance Security deposit Buying Costs Annual mortgage payments Property taxes Insurance, maintenance Down payment, closing costs Growth in equity Estimated annual appreciation $ 7,520 152 1,050 Rental cost Buying cost Total Cost $ 10,600 ($ 9,606 is interest) 2,170 Assume an after-tax savings interest rate of 5 percent and a tax rate of 28 percent. a. Calculate the total rental cost and total buying cost. 1,920 4,500 994 3,000
For the second mortgage application, calculate the percentage of appraised value and the potential credit (in $). Appraised Lender's Value Percentage of Percentage Appraised Value (in $) Balance of First Mortgage $358,700 75% $ $198,500 $ Potential Credit (in $)
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Question content area top Part 1 Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $405,398 5.25% 35 $2111.08
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Appraised Lender's Percentage of Value Percentage Appraised Value (in $) $125,500 60% LA Balance of First Mortgage $53,200 $ LA Potential Credit (in $)