Bill has a mortgage of $366,000 through his bank for property purchased. The loan is repaid by end of month payments of $2,912.69 with an interest rate of 4.35% compounded monthly over 14 years. What is the interest included in the 47th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. $

Bill has a mortgage of $366,000 through his bank for property purchased. The loan is repaid by end of month payments of $2,912.69 with an interest rate of 4.35% compounded monthly over 14 years. What is the interest included in the 47th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. $

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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James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the hazard insurance premium is $764.50 per year. Find the monthly PITI payment (in $). (Round your answer to the nearest cent. Use this table as needed.)
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Tom Bond borrowed $6,800 at 8-% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan? Compound amount = $ (Round to the nearest cent as needed.)
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