Bob Jones bought a new log cabin for $80,000 at 6.50% 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 $80,000 at 6.50% 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4.750
4.875
5.000
3.875
4.000
4.125
4.250
4.375
4.500
4.625
4.750
4.875
5.000
5.125
5.250
5.375
5.500
5.625
5.750
5.875
6.000
6.125
6.250
0.39583
0.40625
0.41667
6.375
6.500
6.625
6.750
6.875
7.000
7.125
7.250
7.375
7.500
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0.32292
0.33333
0.34375
0.35417
0.36458
0.37500
0.38542
0.39583
0.40625
0.41667
0.42708
0.43750
0.44792
0.45833
0.46875
0.47917
0.48958
0.50000
0.51042
0.52083
0.53125
0.54167
0.55208
0.56250
0.57292
10.48477
10.54556
10.60655
0.58333
0.59375
0.60417
0.61458
10.06250
473213
10.06521
10.12451
11.35480
11.41850
7.77832
7,84297
200201
11.48241
11.54653
11.61085
11.67537
11.74010
11.80504
11.87017
7.33440
5.99414
5.20959
7.39688
6.05980
5.27837
10.18403 7.45968
6.12587
5.34763
10.24375
7.52278
6.19234
5.41738
10.30369
7.58620
6.25922
5.48761
10.36384
7.64993
6.32649
5.55832
10.42420
7.71397
6.39417
5.62951
10.48477
7.77832
6.46224
5.70117
10.54556
7.84297
6.53070 5.77330
10.60655
7.90794
6.59956
5.84590
10.66776 7.97320 6.66881
5.91896
10.72917
8.03878 6.73844
5.99248
10.79079
8.10465
6.80847
6.06645
10.85263
8.17083
6.87887
6.14087
10.91467
8.23732
6.94966
6.21575
5.75656
10.97692
8.30410
7.02084
6.29106
5.83573
11.03938
8.37118
7.09238
6.36682 5.91538
11.10205
8.43857
7.16431
6.44301
5.99551
11.16493
8.50625
7.23661
6.51964
6.07611
11.22801
8.57423
7.30928 6.59669
6.15717
11.29130
7.38232 6.67417
6.23870
7.45573
6.75207
6.32068
7.52950
6.83039
6.40311
7.60364
6.90912
6.48598
7.67814
6.98825
6.56929
7.75299
7.06779
6.65302
7.82820
7.14773
6.73719
7.90376
7.22807
6.82176
7.97967
7.30880
6.90675
8.05593
7.38991
6.99215
6.46224
6.53070
6.50056
8.64250
8.71107
8.77994
8.84909
8.91854
8.98828
9.05831
9.12863
9.19923
9.27101
5.70117
5.77330
594500
5.21647 4.65758
5.29208
4.73947
232049
4.70237
4.77415
4.84650
4.91940
4.99285
5.06685
5.14140
5.21647
5.29208
5.36822
5.44487
5.52204
5.59971
5.67789
4.10198
4.17938
4.25746
4.33620
4.41559
4.49563
4.57629
4.65758
4.73947
4.82197
4.90505
4.98870
5.07293
5.15770
5.24302
5.32888
5.41525
5.50214
5.58952
5.67740
5.76575
5.85457
5.94385
6.03357
6.12373
6.21431
6.30531
6.39672
6.48852
6.58071
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Bob Jones bought a new log cabin for $80,000 at 6.50% interest for 15 years. Prepare an amortization schedule for the first three
periods (Use Table 151)
Note: Round your intermediate calculations and final answer to the nearest cent.
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
Payment
Number
O Show Transcribed Text
4.125
4.250
4.375
1
2
3
TABLE 15.1
Amortization table (mortgage principal and interest per $1,000)
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
4.500
4.625
4.750
Portion to-
Interest
0.33333
0.34375
0.35417
0.36458
0.37500
0.38542
0.39583
10 Year
Principal
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
Balance of loan
outstanding
10.36384
10.42420
10.48477
15 Year
6.43509
6.49281
6.55085
6.60921
6.66789
6.72689
6.78622
6.84586
6.90582
5.54598
6.96609
5.60876
7.02669
5.67196
7.08760
5.73557
7.14883
5.79960
7.21037
5.86404
7.27222
5.92888
7.33440
5.99414
7.39688
6.05980
7.45968
6.12587
7.52278
6.19234
7.58620
6.25922
7.64993
6.32649
7.71397 6.39417
7.77832 6.46224
20 Year
5.05883
5.11825
5.17808
25 Year
4.23854
4.29966
4.36131
5.23834
4.42348
5.29903 ¹4.48617
5.36014
4.54938
5.42166
4.61311
5.48361
4.67735
4.74211
4.80738
4.87316
4.93945
5.00624
5.07352
5.14131
5.20959
5.27837
5.34763
5.41738
5.48761
5.55832
5.62951
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
521647
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 65740
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