Bob Jones bought a new log cabin for $70,000 at 4% interest for 15 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) Note: Round your intermediate calculations and final answer to the nearest cent. Payment Number 1 2 3 Portion to- Interest Principal Balance of loan outstanding
Bob Jones bought a new log cabin for $70,000 at 4% interest for 15 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) Note: Round your intermediate calculations and final answer to the nearest cent. Payment Number 1 2 3 Portion to- Interest Principal Balance of loan outstanding
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:PERALD
Rate
2.000
2.125
2.250
2.375
2.500
2.625
2.750
2.875
3.000
3.125
3.250
3.375
3.500
3.625
3.750
3.875
4.000
4.125
4.250
4.375
4.500
4.625
4.750
Interest
Only
0.16667
0.17708
0.18750
0.19792
0.20833
0.21875
0.22917
0.23958
0.25000
0.26042
0.27083
0.28125
0.29167
0.30208
0.31250
0.32292
0.33333
0.34375
0.35417
0.36458
0.37500
0.38542
0.39583
10 Year
9.20135
9.25743
9.31374
9.37026
9.42699
9.48394
9.54110
9.59848
9.65607
9.71388
9.77190
9.83014
9.88859
9.94725
10.00612
10.06521
10.12451
10.18403
10.24375
10.30369
10.36384
10.42420
10.48477
15 Year
20 Year
25 Year
6.43509
5.05883
4.23854
6.49281
5.11825
4.29966
6.55085
5.17808
4.36131
6.60921
5.23834
4.42348
6.66789
5.29903
4.48617
6.72689
5.36014
4.54938
6.78622
5.42166
4.61311
6.84586
5.48361
4.67735
6.90582
5.54598
4.74211
6.96609
5.60876
4.80738
7.02669
5.67196
4.87316
7.08760
5.73557
4.93945
7.14883
5.79960
5.00624
7.21037 5.86404 5.07352
7.27222
5.92888
5.14131
7.33440
5.99414
5.20959
7.39688
6.05980
5.27837
7.45968
6.12587
5.34763
7.52278
6.19234
5.41738
7.58620
6.25922
5.48761
7.64993
6.32649
5.55832
7.71397
6.39417
5.62951
7.77832
6.46224
5.70117
30 Year
3.69619
3.75902
3.82246
3.88653
3.95121
4.01651
4.08241
4.14892
4.21604
4.28375
4.35206
4.42096
4.49045
4.56051
4.63116
4.70237
4.77415
4.84650
4.91940
4.99285
5.06685
5.14140
5.21647
40 Year
3.02826
3.09444
3.16142
3.22921
3.29778
3.36714
3.43728
3.50818
3.57984
3.65226
3.72541
3.79930
3.87391
3.94923
4.02526
4.10198
4.17938
4.25746
4.33620
4.41559
4.49563
4.57629
4.65758
Transcribed Image Text:Bob Jones bought a new log cabin for $70,000 at 4% interest for 15 years. Prepare an amortization schedule for the first three periods.
(Use Table 15.1.)
Note: Round your intermediate calculations and final answer to the nearest cent.
Payment
Number
1
2
3
Portion to-
Interest
Principal
Balance of loan
outstanding
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