Bob Jones bought a new log cabin for $68,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Portion to- Balance of loan Payment Number Interest Principal outstanding 2 3
Bob Jones bought a new log cabin for $68,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Portion to- Balance of loan Payment Number Interest Principal outstanding 2 3
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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Transcribed Image Text:TABLE
15-1
Amortization table (mortgage principal and interest per $1,000)
INTEREST
Term
in years
5%
51%
6%
61%
7%
71%
8%
9%
94%
10%
101%
11%
10
9.89
10.61
10.86
11.11
11.36
11.62
11.88
12.14
12.40
12.67
12.94
13.22
13.50
13.78
12
8.52
9.25
9.51
9.76
10.02
10.29
10.56
10.83
11.11
11.39
11.67
11.96
12.25
12.54
15
7.15
7.91
8.18
8.44
8.72
8.99
9.28
9.56
9.85
10.15
10.45
10.75
11.06
11.37
17
6.52
7.29
7 56
7.84
8.12
8.40
8.69
8.99
9.29
9.59
9.90
10.22
10.54
10.86
20
5.80
6.60
6.88
7.17
7.46
7.76
8.06
8.37
8.68
9.00
9.33
9.66
9.99
10.33
22
5.44
6.20
6.51
6.82
7.13
7.44
7.75
8.07
8.39
8.72
9.05
9.39
9.73
10.08
25
5.01
5.85
6.15
6.45
6.76
7.07
7 39
7.72
8.06
8.40
8.74
9.09
9.45
9.81
30
4.50
5.37
5.68
6.00
6.33
6.66
7.00
7.34
7.69
8.05
8.41
8.78
9.15
9.53
35
3.99
5.05
5.38
5.71
6.05
6.39
6.75
7.11
7.47
7.84
8.22
8.60
8.99
9.37
acer
Transcribed Image Text:Bob Jones bought a new log cabin for $68,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three
periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.)
Payment
Portion to-
Balance of loan
Number
Principal
outstanding
Interest
1
3.
acer
2.
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